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  • Loan

    • CA-4.2.20

      A loan secured by a policy of insurance issued by the company must be valued as the amount of the loan but not exceeding the amount payable on a surrender of the policy as at the date the policy is being valued.

    • CA-4.2.21

      A loan to an individual or an unincorporated body of persons shall be valued at the lower of the outstanding amount of the loan and the amount that would reasonably be paid by way of consideration for an immediate assignment of the loan together with the benefit of any security held in respect thereof.

    • CA-4.2.22

      Where paragraph CA-4.2.21 applies and the loan to any one individual or unincorporated body of persons is fully secured on assets whose value at least equals the amount of the loan and the loan exceeds 5% of the insurance business amount, the admissible value of the secured loan for the purpose of this Chapter must be restricted to 5% of the insurance business amount.

    • CA-4.2.23

      Where Paragraph CA-4.2.21 applies and the loan to any one individual or unincorporated body of persons is not fully secured on assets whose value at least equals the amount of the loan and the loan exceeds 1% of the insurance business amount, the admissible value of the unsecured loan for the purpose of this Chapter must be restricted to 1% of the insurance business amount.