Definitions
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.... Act, 2019 (50 of 2019); (b) 'allocated loss adjustment expenses' mean the expenses which are directly attributable to a specific claim; (c) 'Appointed Actuary' shall have the same meaning as assigned to it under clause (c) of sub-regulation 1 of regulation 3 of the International Financial Services Centres Authority (Appointed Actuary) Regulations, 2022; (d) 'Authority' ....
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....s; (h) 'insurer' for the purpose of these regulations means an International Financial Service Centre Insurance Office undertaking general, health or re-insurance business; (i) 'International Financial Service Centre Insurance Office' shall have the same meaning as assigned to it under clause (k) of sub-regulation (1) of regulation 3 of the International Financial Services Centre....
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....mium written which is attributable and to be allocated to the succeeding accounting periods representing the unexpired portion of the risks on the policies; (n) 'unexpired risk reserves' means the reserves in respect of the liabilities for unexpired risks and determined as the aggregate of unearned premium reserve and premium deficiency reserve. (2) Words and expressions used and not d....
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