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  • Real Estate Assets

    • CA-4.2.5

      Real estate assets such as land and buildings must be valued at market value as assessed by an independent qualified valuer at a date no earlier than 3 years from the end of the financial year under consideration. An insurance firm may elect to use book value where that value is less than market value however where no proper valuation exists the value is deemed by this Module to be nil.

      Amended: January 2007

    • CA-4.2.6

      If the value of any single asset under Paragraph CA-4.2.5 exceeds 10% of the insurance business amount, the admissible value of the said asset for the purpose of this Paragraph must be restricted to 10% of the insurance business amount.

    • CA-4.2.7

      The 10% admissibility test of Paragraph CA-4.2.6 is to be applied in total to both land and building, in instances where the realisable value of the asset is dependent on both the land and the building.