SCHEDULEInternational Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023
SCHEDULEInternational Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023
Schedule - I - refer clause (a) of sub-regulation (1) of regulation 5
International Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023 Schedules SCH SCHEDULE
Contents
Rules & Regulations
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Asset admissibility for insurer solvency requires zero valuation of specified unrealisable balances and deduction of liabilities. Specified unrealisable or non-qualifying assets must be valued at zero for insurer solvency purposes, including certain outstanding co-insurer and ... Summary
International Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023
International Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023
Asset admissibility for insurer solvency requires zero valuation of specified unrealisable balances and deduction of liabilities.
Specified unrealisable or non-qualifying assets must be valued at zero for insurer solvency purposes, including certain outstanding co-insurer and re-insurer balances, aged unutilised Goods and Services Tax credit, fixed assets, deferred expenses and fictitious assets. Insurers must prepare Form ALSM-GI-A, identifying audited balance-sheet assets, inadmissible assets, current liabilities and provisions. Admissible assets for solvency are calculated by deducting inadmissible assets and current liabilities and provisions from total audited balance-sheet assets.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.