• PINS 10.1.5 PINS 10.1.5 Group structure

    (1) The structure of the insurer's group must be transparent and must not hinder the effective supervision of the insurer.
    (2) The structure and risk profile of the group must not hinder the insurer's stability and solvency.
    (3) The overall governance, high-level controls and reporting lines within the group must be clear so far as they affect the insurer.

    Example

    The insurer must not be subject to material control or influence from another group member that is exercised through informal or undocumented channels.
    (4) There must be clear and certain protocols for the performance of functions for the insurer at the group level.
    Inserted by QFCRA RM/2013-1 (as from 1st January 2015).

    • PINS 10.1.5 Guidance

      The senior management of an insurer that is a member of a group remains responsible for its regulatory compliance, even if parts of it are delegated or outsourced to other group members (see CTRL, Chapter 4).

      Inserted by QFCRA RM/2013-1 (as from 1st January 2015).
      Amended by QFCRA RM/2021-1 (as from 1st July 2021)