Glossary

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Term Definition Legal instruments

life protection reinsurance business

01/01/2016

 THIS DEFINITION ONLY APPLIES TO THE INSURANCE COMPANY – CAPITAL RESOURCES REQUIREMENTS PART

means reinsurance acceptances which are contracts of insurance:

(1)   falling within long-term insurance business class I; or

(2)   falling within long-term insurance business class III and providing index-linked benefits;

that are not:

(3)   with-profits policies;

(4)   whole life assurances;

(5)   contracts to pay annuities on human life; or

(6)   contracts which pay a sum of money on the survival of the life assured to a specific date or on his earlier death.