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  • ES-1.12 ES-1.12 Module BR — BMA Reporting

    • ES-1.12.1

      Module BR outlines the CBB's reporting requirements. The reporting requirements are broken down into three main categories:

      (a) Financial reporting;
      (b) Notifications; and
      (c) Approvals.
      Amended: January 2007

    • ES-1.12.2

      Annual financial reporting is required for all insurance licensees. Group and quarterly reporting are required only for insurance firms. The financial reporting Chapter contains various Rules, Directives and Guidance which underpin the reporting forms included in Part B of Volume 3 (Insurance).

      Amended: January 2007
      Amended: October 2007

    • ES-1.12.3

      The Module outlines instances and procedures to be followed where insurance licensees must submit written notifications to the CBB. These include matters having a serious supervisory impact, breaches of Regulations and Directives and other requirements and the removal or resignation of auditors or Reporting Actuaries.

      Amended: January 2007

    • ES-1.12.4

      The Module also outlines where insurance licensees must seek the CBB's prior approval for changes in their operations, such as change in legal status, mergers, acquisitions, disposals and establishment of new subsidiaries. The CBB's prior approval is also required for insurance licensees undertaking business transfers and for related party transactions above a specified threshold.

      Amended: January 2007
      Amended: October 2007

    • ES-1.12.5

      Finally, the Module outlines the various ways in which the CBB gathers its information from insurance licensees including onsite visits by the CBB, and where deemed necessary the use of Appointed Experts.

      Amended: January 2007