CAPI 2.2.6 Regulatory authority to have regard to certain matters
(1) In determining an amount for a class 2 or class 4 captive insurer under this part, the Regulatory Authority must have regard to the nature, scale and complexity of the firm's business.
(2) Without limiting subrule (1), the Regulatory Authority may, in determining an amount for a class 2 captive insurer, take into account the following:
(a) the third party risks the captive insurer expects to insure;
(b) how closely linked the business or operations giving rise to the third party risks are to the business or operations of the group to which the captive insurer belongs;
(c) the percentage of gross written premium (up to 20%) that captive insurer intends to obtain from third party risks;
(d) any burden or undue risks to the cedent or other policyholders.
(3) Without limiting subrule (1), the Regulatory Authority may take into account the matters in rule 1.2.6 (2) (Regulatory Authority may authorise entity as class 4 captive insurer) in determining an amount for a class 4 captive insurer.
|Derived from QFCRA RM/2011-1 (as from 1st July 2011)|