Captive Insurance Business Rules 2011 (CAPI)

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Captive Insurance Business Rules 2011 (CAPI)
CAPI Chapter 1:
General provisions
CAPI Part 1.1 Introductory
CAPI Part 1.2 Key terms and basic concepts
CAPI Chapter 2:
Prudential requirements
CAPI Part 2.1 Prudential requirements — general
CAPI Part 2.2 Minimum capital requirements
CAPI Part 2.3 Prudential requirements — other provisions
CAPI Chapter 3:
Eligible capital
CAPI 3.1.1 What is eligible capital?
CAPI 3.1.2 What is a firm's total eligible capital?
CAPI 3.1.3 What is permanent share capital?
CAPI 3.1.4 What is share premium account?
CAPI 3.1.5 What are qualifying letters of credit?
CAPI 3.1.6 What are intangible assets?
CAPI 3.1.7 What are inadmissible assets?
CAPI Chapter 4:
Outsourcing managerial functions
CAPI 4.1.1 Application of chapter 4
CAPI 4.1.2 Outsourcing of firm's management
CAPI 4.1.3 Selecting captive insurance manager and entering into agreement
CAPI 4.1.4 Outsourcing agreement must be in writing etc
CAPI 4.1.5 Certain events to be notified to the Regulatory Authority
CAPI 4.1.6 Effect of outsourcing
CAPI Chapter 5:
Additional requirements for protected cell companies
CAPI 5.1.1 Definitions for chapter 5
CAPI 5.1.2 General requirement
CAPI 5.1.3 Captive insurers that are PCCs not to create cells without consent
CAPI 5.1.4 Captive insurers that are PCCs to conduct insurance business only through cells
CAPI 5.1.5 Captive insurers that are PCCs not to conduct general and life insurance business through same cell
CAPI 5.1.6 Minimum solvency criterion
CAPI 5.1.7 Risk-based minimum solvency requirement
CAPI 5.1.8 What is a cell's premium risk component?
CAPI 5.1.9 Technical provision risk component — cells conducting general iInsurance business
CAPI 5.1.10 Technical provision risk component — cells conducting life insurance business
CAPI 5.1.11 Regulatory Authority to make available certain details of PCCs
CAPI Chapter 6:
Measurement of value of assets and liabilities
CAPI 6.1.1 Classification of contracts
CAPI 6.1.2 Accounting standards and principles
CAPI 6.1.3 Firms may use other methods
CAPI 6.1.4 Direction by Regulatory Authority
CAPI Chapter 7:
Actuarial reporting
CAPI Part 7.1 Obligations of firms
CAPI Part 7.2 Financial condition reports
CAPI Part 7.3 Additional reports, special reviews and costs
CAPI Chapter 8:
Additional requirements for long term insurance business
CAPI Part 8.1 Preliminary
CAPI Part 8.2 Establishment of long term insurance fund
CAPI Part 8.3 Attribution of contracts to long term insurance fund
CAPI Part 8.4 Limitation on use of assets in long term insurance fund
CAPI Chapter 9:
Transfer of insurance business
CAPI 9.1.1 Application of chapter 9
CAPI 9.1.2 Definitions for chapter 9
CAPI 9.1.3 Form and content of scheme report
CAPI 9.1.4 Summary of scheme
CAPI 9.1.5 Notice of intention and summary of report
CAPI Chapter 10:
Captive insurers in run-off
CAPI Part 10.1 General provisions
CAPI Part 10.2 Notices and run-off plans
CAPI Part 10.3 Provisions for contracts relating to captive insurance business in run-off
CAPI Part 10.4 Limitations on distributions by captive insurers in run-off
CAPI Glossary


Amended by QFCRA RM/2021-1 (as from 1st July 2021).