3

Capital Resources Requirement

3.1

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

3.2

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.