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  • Insurance Manager

    • AU-2.1.12

      Persons carrying out the regulated activity of insurance manager, and who meet the licensing criteria of this Section must be:

      (i) A Bahraini joint stock company (BSC);
      (ii) A Bahraini company with limited liability ('WLL'); or
      (iii) A branch resident in Bahrain of a company incorporated under the laws of its territory of incorporation and (where local regulation so requires) authorised as an insurance or reinsurance intermediary in that territory.
      Amended: July 2007

    • AU-2.1.13

      An insurance manager is a professional provider of services to insurance firms, which may include company secretarial, bookkeeping, claims processing and underwriting and, where duly licensed, insurance consulting and actuarial services. The CBB would, in principle, regard it as acceptable for the insurance manager to provide these services to other clients, whether or not insurance clients. It would not regard it as acceptable for the firm to combine these activities with that of insurance broker, although it is possible for a group to include both insurance broker and insurance manager activities, for instance, by an insurance broker establishing a subsidiary to act as an insurance manager (or vice versa).

      Amended: July 2007