PINS A3.7.3 Insurer may apply for different percentages
(1) The Regulatory Authority may, on application of an insurer conducting business in PINS category 1, give written consent to the use of percentages other than those in table A3.7.2 if the authority is satisfied that:
(a) adequate mortality and morbidity information exists in respect of that business; and
(b) the information provides a reasonable basis for reliance on actuarial principles.
(2) The percentages that may be used must be those stated in the notice but may not be lower than:
(a) 12% in the case of direct insurance and proportional reinsurance; and
(b) 16% in the case of non-proportional reinsurance.
|Amended by QFCRA RM/2013-1 (as from 1st January 2015).|