PINS 8.7.10 Treatment of net value of future policy benefits

An insurer must recognise as a liability the net value of future policy benefits under policies that are in force as at the solvency reference date, taking into account all prospective liabilities as determined by the policy conditions for each existing contract, and taking credit for premiums payable after the solvency reference date.

Amended by QFCRA RM/2017-3 (as from 1st April 2017).