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  • GR-1.3 GR-1.3 Other Records

    • GR-1.3.1

      Insurance licensees must maintain the following records in original form or in hard copy at their premises in Bahrain:

      (a) Internal policies, procedures and operating manuals;
      (b) Corporate records, including minutes of shareholders', Directors' and management meetings;
      (c) Accounts, books, files and other records that adequately record all the business affairs of the insurance licensee, and any other records that substantiate the value of the assets, liabilities and off-balance sheet activities of the licensee;
      (d) Correspondence with the CBB and records relevant to monitoring compliance with CBB requirements;
      (e) Reports prepared by the insurance licensee's internal and external auditors; and
      (f) Employee training manuals and records.
      Amended: January 2007

    • GR-1.3.2

      In the case of Bahraini insurance licensees, these requirements apply to the licensee as a whole, including any overseas branches. In the case of overseas insurance licensees, all the requirements of Chapter GR-1 are limited to the business booked in their branch in Bahrain and the records of that branch (see GR-1.1.1). Overseas insurance licensees are thus not required to hold copies of shareholders' and Directors' meetings, except where relevant to the branch's operations.

      Amended: January 2007