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  • GR-6.1 GR-6.1 Key Provisions

    • GR-6.1.1

      Condition 3 of the CBB's licensing conditions specifies, amongst other things, that insurance licensees must satisfy the CBB that their close links do not prevent the effective supervision of the licensee and otherwise pose no undue risks to the licensee. (See Paragraph AU-2.3.1).

      Amended: July 2007

    • GR-6.1.2

      Applicants for an insurance license must provide details of their close links, as provided for under Form 1 (Application for a License). (See Paragraph AU-5.1.5).

      Amended: October 2007

    • GR-6.1.3

      Insurance firms and insurance brokers must submit to the CBB, attached to their annual return and within 3 months of their financial year-end, a report on their close links. The report must identify all undertakings closely linked to the licensee, as defined in Section GR-6.2.

      Amended: April 2012
      Amended: July 2007

    • GR-6.1.4

      Insurance licensees may satisfy the requirement in Paragraph GR-6.1.3 by submitting a corporate structure chart, identifying all undertakings closely linked to the licensee. In the case of insurance firms, the report is included as part of the Insurance Firm Return (Form IFR (C) or IFR (T)). In the case of insurance brokers, the report is included as part of the the Insurance Broker Return (Form IBR).

      Amended: April 2012
      Amended: July 2007

    • GR-6.1.5

      Insurance licensees must provide information on undertakings with which they are closely linked, as requested by the CBB.

      Amended: July 2007