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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.

18.1

01/01/2016

The insurance market risk capital component is 3% of the adjusted mathematical reserves for all insurance liabilities except those of a kind which:

  1. (1) arise from contracts of insurance falling in long-term insurance business classes III, VII or VIII to the extent that the firm does not bear any investment risk; or
  2. (2) arise from contracts of insurance falling in long-term insurance business class V; or
  3. (3) for a pure reinsurer or a mixed insurer, arise from contracts of insurance falling within:
    1. (a) its life protection reinsurance business; or
    2. (b) its permanent health reinsurance business.