PIN A8.3.2

Where an Insurer arranges its affairs such that Invested Assets attributable to a Long-Term Insurance Fund are held in a Related entity, the Insurer may, with the written approval of the Regulator, calculate components of the Minimum Fund Capital Requirement by reference to the interest of the Long-Term Insurance Fund in the assets that are held by the Related entity, instead of by reference to the interest that the Long-Term Insurance Fund has in that Related entity. In that case this appendix shall be interpreted as though the assets (representing the Long-Term Insurance Fund's interest) held by the Related entity were held directly by the Long-Term Insurance Fund.