818R9. In Chapters II to XIV, XVI and XX, the Canadian investment fund, at the end of a taxation year, of an insurer not resident in Canada means the amount by which the aggregate determined under section 818R10 exceeds the aggregate of(a) the value, at the end of the year, of its property referred to in paragraph e of section 818R38 in respect of all its insurance businesses in Canada, excluding money or any amount on deposit to its credit with a corporation authorized to accept deposits or to offer services as a trustee; and
(b) its deferred acquisition expenses in respect of its property and casualty insurance business in Canada, as determined by the insurer either in its annual report filed with the Superintendent of Financial Institutions for the year or, where the insurer was subject to the supervision of the Superintendent of Financial Institutions throughout the year but was not required to file an annual report with the Superintendent for the year, in its financial statements for the year.