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  • Debt Securities

    • CA-4.2.8

      Debt securities (both fixed and variable interest securities) issued by, or guaranteed by, governments rated investment grade, or public authority with investment grade security must be valued at:

      (a) In the case of listed securities, the closing market quotation or the latest available market quotation;
      (b) In the case of securities which are not transferable, the amount payable on surrender or redemption of such securities as at the date the security is being valued; and
      (c) In any other case, the amount which would reasonably be paid by way of consideration for an immediate transfer or assignment thereof.
      Amended: January 2007

    • CA-4.2.9

      There are no admissibility restrictions for fixed and variable interest securities meeting the requirements of Paragraph CA-4.2.8. However, admissibility restrictions pertaining to counterparties may apply (CA-4.2.33).

      Amended: January 2007

    • CA-4.2.10

      Debt securities (both fixed and variable interest securities) not covered by Paragraph CA-4.2.8 must be valued at:

      (a) In the case of listed securities, the closing market quotation;
      (b) In the case of securities which are not transferable, the amount payable on surrender or redemption of such securities as at the date the security is being valued; and
      (c) In any other case, the amount which would reasonably be paid by way of consideration for an immediate transfer or assignment thereof.
      Amended: January 2007

    • CA-4.2.11

      If the value of debt securities, other than those to which Paragraph CA-4.2.8 relates, (both fixed and variable interest securities), which are listed securities, in any one company together with its associated companies exceeds 5% of the insurance business amount, the admissible value of the said assets for the purpose of this Chapter must be restricted to 5% of the insurance business amount.

      Amended: January 2007

    • CA-4.2.12

      For debt securities (both fixed and variable interest) which are not listed securities, if the value of those securities in any one company together with its associated companies exceeds 1.0% of the insurance business amount the admissible value of the said assets for the purpose of this Chapter must be restricted to 1.0% of the insurance business amount.

      Amended: January 2007