CIB 6.11.4

Acquisition costs incurred in respect of Contracts of Insurance entered into by a Captive Insurer must be treated as payable:

(a) in the case of expenses directly related to the premiums in respect of the contract, at the same time as the premium is treated as receivable; and
(b) in the case of expenses not directly related to the premiums in respect of the contract, at the time the contract is effected.