Back Custom print Link Text Only Rich Text Print

  • Removal or Resignation of a Reporting Actuary

    • AA-4.2.5

      Insurance firms must notify the CBB as soon as it intends to remove its Reporting Actuary, together with an explanation of its decision, or as soon as its Reporting Actuary resigns.

      Amended: January 2007

    • AA-4.2.6

      Insurance firms must ensure that a replacement Reporting Actuary is appointed (subject to CBB approval as per Paragraph AA-4.1.1), as soon as reasonably practicable after a vacancy occurs, but no later than three months.

      Amended: January 2007

    • AA-4.2.7

      If an insurance firm fails to make a fresh appointment of a Reporting Actuary in accordance with the provisions of Paragraph AA-4.2.6, the insurance firm must not — until such an appointment is made — effect any new contract which constitutes long-term business without the written permission of the CBB.

      Amended: January 2007

    • AA-4.2.8

      An actuary who resigns or is otherwise removed from the office of Reporting Actuary must, within 30 days of his resignation or removal, write to the CBB setting out the reasons for his resignation or removal.

      Amended: January 2007