ceding insurer's waiver

89(in FEES) a waiver granted on the application of an insurer that waives or modifies its obligations under any one or more of GENPRU 2 Annex 7, INSPRU 1.1.92A R and INSPRU 1.2.28 R in order to enable it to:

1. (a) treat amounts recoverable from an ISPV as:
   1. (i) an admissible asset; or
   2. (ii) reinsurance for the purposes of calculating its mathematical reserves; or
   3. (iii) reinsurance reducing its MCR; or
2. (b) otherwise ascribe a value to such amounts.