Insurance Regulations, 2006 · s 11

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s 11

(1)

For the purposes of paragraph {b) of subsection (2) of section 21 of the

Order, the paid-up share capital of an insurer having share capital unimpaired by losses, shall be -

{a)

in the case of an insurer carrying on life business, an amount of not less than $8,000,000; and

(b)

in the case of an insurer carrying on general business, an amount of not less than $8,000,000.

(2)

An insurer established or incorporated outside Brunei Darussalam who does not have a share capital, shall maintain in Brunei Darussalam, a surplus of assets over liabilities of an amount not less than the requirement for the minimum amount of paid-up share capital of an insurer incorporated in Brunei

Darussalam.

(3)

For the purposes of section 56 of the Order, the minimum paid-up share capital of an insurance broker shall be $200,000.

(4)

For the purposes of section 56 of the Order, the minimum paid-up share capital of an adjuster shall be $100,000.

1082

Professional indemnity insurance.