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The Application Paper is specifically directed at the supervision and regulation of captive insurance companies, focuses on the application of the ICPs and its standards towards captive insurers as well as supervisory practices concerning insurance managers, protected cell companies and other cell company structures.

The Application follows the IAIS Issues Paper on the Regulation and Supervision of Captive Insurance Companies released in October 2006 and provides practical advice for supervisors in line with the current range of ICPs.