MAINTENANCE OF BOOKS OF ACCOUNTS, RECORDS AND DOCUMENTSInternational Financial Services Centres Authority (Preparation and Presentation of Financial Statements of International Financial Service Centre Insurance Offices) Regulations, 2022
MAINTENANCE OF BOOKS OF ACCOUNTS, RECORDS AND DOCUMENTSInternational Financial Services Centres Authority (Preparation and Presentation of Financial Statements of International Financial Service Centre Insurance Offices) Regulations, 2022
International Financial Services Centres Authority (Preparation and Presentation of Financial Statements of International Financial Service Centre Insurance Offices) Regulations, 2022 Chapter I PRELIMINARY
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Insurance accounting definitions clarify financial-year treatment, insurance contracts, policyholder liabilities, and shareholder funds for IFSC insurance offices. An accounting year for an unincorporated Insurance Office follows its parent entity's financial year, while an incorporated Insurance Office follows a ... Summary
International Financial Services Centres Authority Act, 2019
International Financial Services Centres Authority (Preparation and Presentation of Financial Statements of International Financial Service Centre Ins...
Insurance accounting definitions clarify financial-year treatment, insurance contracts, policyholder liabilities, and shareholder funds for IFSC insurance offices.
An accounting year for an unincorporated Insurance Office follows its parent entity's financial year, while an incorporated Insurance Office follows a period ending on 31 March each year. The Policyholders' Fund includes estimated outstanding-claim liabilities, insurance reserves, other liabilities, and other assets on a net basis. Shareholders' Funds comprise share capital, reserves and surplus after specified exclusions and deductions; an unincorporated Insurance Office uses assigned capital instead of share capital.
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