PIN 9.4.5

The amount referred to in Rule 9.4.2(b)(ii) is calculated as follows:

(a) in the case of an Insurer that is not an ADGM Incorporated Insurer, the amount of the assets that the Insurer is required by Rule 4.6.2 to make available;
(b) in the case of a Cell of an Insurer, the sum of the following two amounts:
(i) the Insurance Liabilities attributable to that Cell; and
(ii) the Minimum Cellular Capital Requirement applicable to that Cell.
(c) in the case of a Long-Term Insurance Fund, subject to (e) and (f), the sum of the following two amounts:
(i) the Insurance Liabilities attributable to that Long-Term Insurance Fund; and
(ii) the Minimum Fund Capital Requirement applicable to that Long-Term Insurance Fund;
(d) in the case of an Insurer that is an ADGM Incorporated Insurer and that is not a Cell Company, the sum of the following two amounts:
(i) the Insurer's Insurance Liabilities; and
(ii) the Insurer's Minimum Capital Requirement.
(e) in the case of an Insurer to which (a) and (c) both apply, the amount set out in (a); and
(f) in the case of an Insurer to which (c) and (d) both apply, the amount set out in (d).