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5.2. Calculation of Eligible Capital and capital requirements
FINANCIAL SERVICES LEGISLATION
RULES
INSURANCE AND REINSURANCE PRUDENTIAL RULES
SCHEDULE 2 Categories of Long-Term Insurance
SCHEDULE 6. Prudential returns by Insurers
WORKING SCHEDULE 1 - List of Defined Terms for PINS and associated rulebooks
Entire Act

5.2. Calculation of Eligible Capital and capital requirements

5.2.1. Obligation to calculate Eligible Capital

An AIFC-Incorporated Insurer must calculate its Eligible Capital on an ongoing basis in accordance with the rules set out in Schedule 3 (Calculation of Eligible capital).

5.2.2. Obligation to calculate MCR

An AIFC-Incorporated Insurer must calculate its Minimum Capital Requirement (MCR) on an ongoing basis in accordance with the rules set out in Schedule 4 (Calculation of Minimum Capital Requirement (MCR)).

5.2.3. Obligation to calculate PCR

An AIFC-Incorporated Insurer must:

  1. (a) calculate its Prescribed Capital Requirement (PCR) at least once a year in accordance with the rules set out in Schedule 5 (Calculation of Prescribed Capital Requirement (PCR)); and
  2. (b) recalculate its PCR without delay if its risk profile deviates significantly from the risk profile detailed in its last reported PCR.