PINS 1.2.1 Application of PINS

These rules apply to every QFC insurer (or insurer) except where otherwise provided.

Note 1   QFC insurer (or insurer) is defined in r 1.2.3.

Note 2   The prudential requirements of IMEB, and not those of these rules, apply to an authorised firm with an authorisation that permits it to conduct insurance mediation or captive insurance management (or both) and no other business that is or includes a regulated activity.

Note 4   The prudential requirements of CAPI, and not those of these rules, apply to an authorised firm with an authorisation that permits it to conduct only captive insurance business and no other business that is or includes a regulated activity.

Note 5   However, the prudential requirements of these rules apply to a QFC insurer with an authorisation that also permits it to conduct insurance mediation, captive insurance management or captive insurance business.

Amended by QFCRA RM/2013-1 and QFCRA RM/2014-3 (as from 1st January 2015).