PINS 5.4.1 Separate identification of assets, liabilities, revenues and expenses

An insurer that is required under PINS rule 5.2.1 to establish and maintain 1 or more long term insurance funds, or has attributed contracts of insurance in PINS category 1 to a long term insurance fund under PINS Rule 5.3.2(2), must:

(a) identify separately in its books and records the assets, liabilities, revenues and expenses attributable to that business; and
(b) ensure those assets, liabilities, revenues and expenses are recorded separately and accounted for as a long term insurance fund.
Amended by QFCRA RM/2015-3 (as from 1st January 2016).