An Insurance Company that carries on Insurance of Persons and fund accumulation operations shall maintain funds, in the State, whose value is at least equivalent to the full amount of the mathematical reserve of contracts concluded in the State or implemented therein. The Board of Directors may amend, from time to time, the percentage applied to the mathematical reserve to be maintained by the Insurance Company. Such funds shall be completely separated from the funds of other insurance operations. When calculating the aforementioned reserve, the deposit referred to in item (1) of Article (92) of this decree-law shall be taken into account, so that whichever value is greater shall be applicable.
Interpretation and application must be checked against the official text and current version.