PINS 4.4.1 Perpetual qualifying hybrid capital instruments

An insurer may only include perpetual qualifying hybrid capital instruments as part of its upper tier 2 capital if:

(a) they are unsecured, subordinated and fully paid-up;
(b) they are perpetual; and
(c) they are available to absorb losses on a going concern basis.
Editorial changes (as from 1 January 2015).