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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.

12.1

01/01/2016

A firm which is not a pure reinsurer must deduct from total capital resources the value of any asset which is not an admissible asset, unless the asset is held to cover linked long-term liabilities under Insurance Company – Risk Management 4.

12.2

01/01/2016

A firm must deduct from its capital resources the value of its investments in any affiliated company that is an ancillary services undertaking.

12.3

01/01/2016

In relation to each affiliated company that has a Part 4A permission a firm must add to (if positive), at stage J in the capital resources table (Positive adjustments for related undertakings), or deduct from (if negative), at stage L in the capital resources table (Deductions from total capital), its capital resources the value of its shares in that undertaking calculated in accordance with Insurance Companies: Overall Resources and Valuation 8.1.