PINS 10.1.9 Directions about certain intra-group matters

(1) The Regulatory Authority may give an insurer a direction in relation to any of the following matters:
(a) the insurer's treatment of intra-group transactions;
(b) the insurer's treatment of risk concentration within the group;
(c) supervisory reporting and disclosure of information by the insurer;
(d) any other matter relevant to the supervision of the insurer.
Example of when Regulatory Authority might give direction

The Regulatory Authority might impose an additional restriction or requirement on an insurer:
•    if the group is conducting an intra-group transaction that may adversely affect the solvency or financial position of the insurer
•    if there are risks that arise from the existence of a non-regulated entity within or connected to the group and may adversely affect the solvency position of the insurer
•    risk transfer or reinsurance arrangements within the group that impose disproportionate risks on the insurer.
(2) An insurer must comply with a direction under subrule (1).
Inserted by QFCRA RM/2013-1 (as from 1st January 2015).