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  • Our Mission
  • Our History
  • Our Members
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  • Regulation
  • Taxation
  • Solvency & Capital
  • Advantages
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  • Environment
  • Taxation
  • Costs of Establishment
  • Technical Provisions
  • Fees
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Solvency and Capital

• - Solvency follows the EU Solvency 1 Regime.
• - Minimum Guarantee Fund depends on the class of business written and is in line with
• - EU practice. Own funds may consist of paid up share capital (minimum 50%) and a
• - mixture of issued and unpaid share capital, preferential share capital (maximum 25%),
• - subordinated debt (maximum 25%), retained profits and reserves.
• - Solvency test is the greater of 27% of first €50 million of GWP and 24% above €50
• - million of GWP and 26% of the first €35 million of claims and 23% above €35 million of   claims.
• - Credit for reinsurance based on a ratio of net incurred claims as a percentage of gross incurred claims to a maximum of   50%.
• - Net incurred claims is defined as claims less reinsurance recoverable.