has the meaning given by rule 9.1.2 (1). financial condition report (or means a person that has been granted an firm authorised firm) authorisation in accordance with FSR, Part 5. means the FSR Financial Services Regulations. has the meaning given by rule 1.2.5 (1). general insurance business has the meaning given by rule 1.2.6 (1). general insurance contract means an insurer that conducts general insurance general insurer business. has the meaning given by CTRL, rule 2.2.1. governing body has the meaning given in Schedule 1, guidance S8.1. group risk has the meaning given by rule 1.2.4. insurance business Insurance business has a special meaning in ch 11 (see r 11.1.4). Note in relation to an insurer, has insurance concentration risk component, the meaning given in rule A3.10.2. of an insurer, means liabilities of the insurer insurance liabilities, arising out of its general insurance business and long-term insurance business. has the meaning given in rule 3.6.1. insurance risk requirement (or has the meaning given by rule 1.2.3. insurer QFC insurer) has a special meaning in ch 11 (see r 11.1.3). Note Insurer for an insurer, means the model approved by the internal model, Regulatory Authority for calculating all or part of the insurer’s capital requirement. An approved internal model may be used to replace specified components Note of the operational, investment and insurance risk requirements of an insurer (see r 3.8.1 (b)). means insurance where the benefits investment-linked insurance under a contract of insurance are wholly or partly determined by reference to: (a) the value of, or the income from, property of any description (whether or not specified in the contracts); or (b) fluctuations in, or in an index of, the value of property of any description (whether or not so specified). has the meaning given in rule 3.5.1. investment risk requirement means the ISFI Islamic Finance Rules 2005. has the meaning given by ISFI, rule 1.2.1. Islamic financial business has the meaning given by ISFI, Islamic financial institution rule 1.2.2.
financial condition report has the meaning given by rule 9.1.2 (1). firm (or authorised firm) means a person that has been granted an authorisation in accordance with FSR, Part 5. FSR means the Financial Services Regulations. general insurance business has the meaning given by rule 1.2.5 (1). general insurance contract has the meaning given by rule 1.2.6 (1). general insurer means an insurer that conducts general insurance business. governing body has the meaning given by CTRL, rule 2.2.1. group risk has the meaning given in Schedule 1, guidance S8.1. insurance business has the meaning given by rule 1.2.4. Note Insurance business has a special meaning in ch 11 (see r 11.1.4). insurance concentration risk component, in relation to an insurer, has the meaning given in rule A3.10.2. insurance liabilities, of an insurer, means liabilities of the insurer arising out of its general insurance business and long-term insurance business. insurance risk requirement has the meaning given in rule 3.6.1. insurer (or QFC insurer) has the meaning given by rule 1.2.3. Note Insurer has a special meaning in ch 11 (see r 11.1.3). internal model, for an insurer, means the model approved by the Regulatory Authority for calculating all or part of the insurer’s capital requirement. Note An approved internal model may be used to replace specified components of the operational, investment and insurance risk requirements of an insurer (see r 3.8.1 (b)). investment-linked insurance means insurance where the benefits under a contract of insurance are wholly or partly determined by reference to: (a) the value of, or the income from, property of any description (whether or not specified in the contracts); or (b) fluctuations in, or in an index of, the value of property of any description (whether or not so specified). investment risk requirement has the meaning given in rule 3.5.1. ISFI means the Islamic Finance Rules 2005. Islamic financial business has the meaning given by ISFI, rule 1.2.1. Islamic financial institution has the meaning given by ISFI, rule 1.2.2.
QFCRA_4538_VER15.docx