TA-2.1.2

An insurance firm's license will state the classes of insurance that the firm is authorised to conduct. An insurance firm, except for captive insurers, cannot undertake both general insurance and long-term insurance business. Insurance firms must operate on either conventional insurance principles or on takaful principles; they cannot combine the two.

Rulebook Reference AU-A.1.1.14
Amended: January 2007
Amended: October 2007