Section 21
of Insurance Regulations, 2006
Section 21
(1)
The value of deposits withheld by ceding insurers shall be an amount not exceeding the aggregate of the amount outstanding after deducting any amount deemed to be uncollectable.
{2)
The value of net claims recoverable from reinsurers shall be an amount not exceeding the aggregate of the amount outstanding after deducting any amount deemed to be uncollectable.
(3)
The amount of any income tax recoverable shall not include any amount which is likely to be disallowed by the tax authorities.
(4)
Notwithstanding sub-regulations {1} and (2}, an insurer shall provide all balances which are outstanding for more than 6 months from the inception date of the policy as doubtful debts.
Investment income due or accrued and other receivables.