Insurance Company – Capital Resources Requirements Insurance Health Risk and Life Protection Reinsurance Capital Component
Application provision
1.1 Unless otherwise stated, this Part applies to a non-directive insurer other than a non-directive friendly society.
16.1
01/01/2016
Subject to 16.2 the insurance health risk and life protection reinsurance capital component is the highest of:
- (1) the premiums amount;
- (2) the claims amount; and
- (3) the brought forward amount.
16.2
01/01/2016
16.1 only applies in respect of:
- (1) contracts of insurance falling in long-term insurance business class IV (and subject to the conditions set out in 13.1 as modified by 16.3);
- (2) risks falling in general insurance business classes 1 or 2 that are written as part of a contract of long-term insurance; and
- (3) in the case of a pure reinsurer or a mixed insurer, life protection reinsurance business.