CAPI 8.2.1 Firm not a protected cell company

A QFC captive insurer that is not a protected cell company must, before it effects long term insurance contracts—

(a) establish and maintain 1 or more long term insurance funds; or
(b) give written notice to the Regulatory Authority that the firm is to be taken to constitute a single long term insurance fund.

Note Protected cell company is defined in the glossary.

Derived from QFCRA RM/2011-1 (as from 1st July 2011)