Insurance Company - Technical Provisions Risk Transfer Principle
Application provision
1.1 Unless otherwise stated, this Part applies to:
- (1) a non-directive insurer, other than a non-directive friendly society; and
- (2) subject to 1.2, a Swiss general insurer.
3.1
01/01/2016
A firm may only take credit for reinsurance (including all contracts of reinsurance with an ISPV and analogous non-reinsurance financing agreements) if and to the extent that there has been an effective transfer of risk from the firm to a third party that is effective in all circumstances in which the firm may wish to rely upon the transfer.