CTRL 6.5.2 Which QFC insurers must have individual to exercise actuarial function?

(1) A QFC insurer to which rule 6.5.1 applies must have an individual who is approved to exercise the actuarial function for the firm (an approved actuary).
(2) The individual must not be one who:
(a) exercises the senior executive, executive governance or non-executive governance function for the insurer or a related body corporate (except a related body corporate that is a subsidiary of the insurer); or
(b) is an employee or director of an approved auditor (under the Companies Regulations, article 85 (1)) for the insurer.

 

Derived from QFCRA RM/2020-4 (as from 1st July 2021)