PIN 9.1.4

In this Chapter:

(a) an Insurer in run-off means an Insurer that has ceased to effect Contracts of Insurance in respect of the whole of its Insurance Business (or, in the case of an Insurer that is not an ADGM Incorporated Insurer, the whole of its Insurance Business carried on through an establishment in ADGM), and a Cell in run-off and a Long-Term Insurance Fund in run-off are construed accordingly; and
(b) going into run-off or placing Insurance Business into run-off means ceasing to effect Contracts of Insurance, and placing a Cell or a Long-Term Insurance Fund into run-off are construed accordingly.