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  • CA-4.1 CA-4.1 General Requirements

    • CA-4.1.1

      The Asset Valuation Rules, being the Linked Asset Valuation Rules and/or General Asset Valuation Rules, as appropriate, relate to the determination of the value of all the assets of an insurance firm subject to this Chapter.

      Amended: January 2007

    • CA-4.1.2

      Assets not covered in this Chapter are deemed to be inadmissible assets for purposes of calculating the capital available required under Paragraph CA-1.2.21 and their admissible value is deemed to be nil.

      Amended: January 2007

    • CA-4.1.3

      Where an insurance firm has entered into any insurance contracts that are classified as a linked long term insurance business the value of the linked assets to the extent that they are held to match liabilities in respect of such business must be determined in accordance with the Linked Asset Valuation Rules (Paragraphs CA-4.3.1 to CA-4.3.4).

      Amended: January 2007

    • CA-4.1.4

      All other assets of an insurer subject to this Chapter must be valued in accordance with the General Asset Valuation Rules (Paragraphs CA-4.2.1 to CA-4.2.36).

      Amended: January 2007

    • CA-4.1.5

      Where in all the circumstances of the case, any asset is actually of a lesser value than the amount calculated in accordance with prescribed Rules (that is either assets subject to the General Asset Valuation Rules or the Linked Asset Valuation Rules) such lesser value must be taken to be the value of the asset.

      Amended: January 2007

    • CA-4.1.6

      The admissibility of assets for purposes of the General Asset Valuation Rules is determined based on the category of asset held and the counterparty.

      Amended: January 2007

    • CA-4.1.7

      An insurance firm must ensure that its liabilities under a contract of insurance, other than linked long-term business, are covered by assets of appropriate safety, yield and marketability having regard to the classes of business carried on by the insurance firm.

      Amended: January 2007

    • CA-4.1.8

      Without prejudice to Paragraph CA-4.1.7, an insurance firm must ensure that:

      (a) Excessive reliance is not placed on reinsurance or any particular reinsurer; and
      (b) That its investments are appropriately diversified, adequately spread and that excessive reliance is not placed on investments of any particular category, description, type or counterparty.
      Amended: January 2007