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  • ES-A.2 ES-A.2 Module History

    • ES-A.2.1

      This Module was first issued in April 2005 by the BMA together with the rest of Volume 3 (Insurance). Any material changes to that have subsequently been made to this Module are annotated with the calendar quarter date in which the change was made; Chapter UG-3 provides further details on Rulebook maintenance and version control.

      Amended: January 2007

    • ES-A.2.2

      When the CBB replaced the BMA in September 2006, the provisions of this Module remained in force. Volume 3 was updated in January 2007 to reflect the switch to the CBB; however, new calendar quarter dates were only issued where the update necessitated changes to actual requirements.

      Adopted: January 2007

    • ES-A.2.3

      A list of recent changes made to this Module is provided below:

      Module Ref. Change Date Description of Changes
      ES-1.1 01/07/05 Module BR: Corrected first quarterly return due for the period ending 31 March 2006.
      ES-1.1 01/10/05 Clarified application of Module FC to insurance managers.
      ES-1.10 01/10/05 Corrected cross-reference referring to examples of suspicious transactions.
      ES-2.4 01/10/05 Added transition period for actuarial requirements for insurance firms whose long term insurance business is restricted to group life policies having a maturity of less than or equal to 1 year.
      ES-2.5 01/10/05 Corrected cross-reference.
      ES-2.6 01/10/05 Updated transition rules for minimum Tier 1 capital.
      ES-1.1 01/01/06 Transition rules for reporting by insurance firms updated.
      ES-2.7 01/01/06 A Section on transition rules for reporting by insurance firms was added.
      ES-1.1.5 01/07/06 Transition rule for Modules RM and PD has been added.
      ES-2.6A 01/07/06 Added transition rules for physical security measures and third party insurance.
      ES-2.8 01/07/06 Transition rules in respect of semi-annual disclosure requirements have been added.
      ES-A.1.6 01/2007 New Rule introduced, categorising this Module as a Directive.
      ES-1.1.9 and ES-2.4.2 01/2007 Clarified the first period for which a report from the Signing Actuary is required.
      ES-1.1.9 and ES-2.6B.1 01/2007 Allowed for a transition period for the external auditor's report required under Subparagraph FC-3.3.1(d).
      ES-1.1.9 10/2007 Minimum Tier 1 capital only applies to Bahraini insurance firms.
      ES-1.2.2 10/2007 Pure reinsurers can undertake both general insurance business and long-term insurance business within the same entity.
      ES-2.4.3 10/2007 Clarified the transition period for the rotation of audit partner.
      ES-2.6.2 10/2007 Minimum Tier 1 capital only applies to Bahraini insurance firms.
      ES-1.1, ES-1.2, ES-1.11, ES-1.14 10/2009 Reference added to appointed representatives as per Resolution (11) of 2009.
      ES-1.2.3 10/2009 Amended list of controlled functions to be consistent with Module AU.
      ES-1.5.4 10/2009 Amended to be consistent with Section AA-4.2.
      ES-2.5.4 10/2009 Introduced transition rule for new requirements for appointed representatives as per Resolution (11) of 2009.
      ES-A.1.6 01/2011 Clarified legal basis
      ES1.1.9, ES-1.4, ES-1.17.3 and ES-2.3 04/2011 Amended to reflect changes to Module HC.
      ES-1.1.9, ES-1.8A and ES-2.6AA2 04/2012 Amendments made to reflect the issuance of Module CL (Client Money).
      ES-2.6AA1 04/2012 Added transition period to have in place customer complaints procedures as outlined in Chapter BC-4.
      ES-2.7.4 and ES-2.7.5 04/2012 Added transition period for filing of IBR and IBRS.
      ES-1.1.9
      ES-1.15       		10/2012 The reference to Module DP was deleted as customer complaints procedures are included in Chapter BC-4.
      ES-1.1.9 04/2014 Updated transition period to repay/write of Qard Hassan granted for solvency purposes.
      ES-1.2.3 04/2014 Updated list of approved persons to be in line with AU-1.2.2.
      ES-1.7.5, ES-1.19.3, ES-2.4 and ES-2.6 04/2014 Updated to reflect the consultation on the enhanced operational and solvency framework for Takaful firms.