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Application provision

1.1 Unless otherwise stated, this Part applies to a non-directive insurer other than a non-directive friendly society.

3.1

01/01/2016

A firm must maintain at all times capital resources equal to or in excess of its CR Requirement.

3.2

01/01/2016

A firm that carries on both long-term insurance business and general insurance business must comply with 3.1, and apply 4.2 and 4.3, separately in respect of both its long-term insurance business and its general insurance business, unless it is a pure reinsurer which has a single CR Requirement in respect of its entire business in accordance with 5.2 and 5.3.