PINS A3.9.3 Capital at risk

(1) Capital at risk of an insurer means the total amount of sums assured on long-term insurance contracts issued by the insurer, less:
(a) the total amount of mathematical reserves for those contracts; and
(b) any expected reinsurance and non-reinsurance recoveries as at the solvency reference date.
(2) For an annuity, the sum assured must be taken to be the present value of the annuity payments.
(3) The contribution of each contract to capital at risk must be determined separately. If the capital at risk calculated for a contract is less than zero, the capital at risk for that contract is taken to be zero.
Amended by QFCRA RM/2013-1 (as from 1st January 2015).