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  • ES-1.7 ES-1.7 Module CA — Capital Adequacy

    • ES-1.7.1

      Module CA covers requirements governing the minimum capital and solvency requirements as well as the valuation of assets and liabilities.

      Amended: January 2007

    • ES-1.7.2

      Considering the nature of their business, the requirements regarding capital and solvency for insurance firms are far more detailed than for insurance intermediaries and insurance managers.

      Amended: January 2007

    • ES-1.7.3

      Similarly the rules dealing with the valuation of assets and valuation of liabilities are only applicable to insurance firms.

      Amended: January 2007

    • ES-1.7.4

      For insurance firms, Module CA outlines various currency matching and localisation requirements as well as whole firm and group solvency requirements.

      Amended: January 2007

    • ES-1.7.5

      The Module provides detailed rules for requirements dealing with takaful and retakaful specifically addressing:

      (a) General capital requirements;
      (b) The basis of operating a takaful business;
      (c) The segregation of funds;
      (d) The capital adequacy and solvency requirements for both the Takaful firm; and
      (e) The distribution of surplus.
      Amended: April 2014
      Amended: January 2007