CAPI 7.2.1 Purpose and standards of financial condition reports

(1) A financial condition report for a firm that is a QFC captive insurer must give—
(a) an objective assessment of the overall financial condition of the firm; and
(b) if the firm conducts long term insurance business — an objective assessment of the financial condition of each long term insurance fund established by the firm.

Note Long term insurance business and long term insurance fund are defined in the glossary.
(2) In preparing a financial condition report, a reporting actuary must have regard to the relevant professional standards.
Derived from QFCRA RM/2011-1 (as from 1st July 2011)