From January 2016, dividends declared on an insurer’s ordinary shares must be cancellable on a breach of the Solvency Capital Requirement (SCR) at any time up until payment if they are to qualify as Tier 1 own funds.
Senior Counsel Daniëlle Pos co-authored a practical outline of what this means in practice and how different jurisdictions have interpreted this requirement.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.