Back Custom print Link Text Only Rich Text Print

  • Content of the Insurance Firm Return

    • BR-1.1.5

      For every insurance firm who undertakes insurance business, an Insurance Firm Return must be submitted within three months of its financial year end, using the prescribed form IFR from Part B of Volume 3 (Insurance), together with where applicable, Actuary's Certificate and report.

      Amended: October 2023
      Amended: January 2007

    • BR-1.1.6

      For purposes of Paragraph BR-1.1.5, captive insurers are required to submit additional information, as outlined in prescribed Form IFR. This information covers:

      (a) Risk Gap — the degree to which the firm's potential liabilities (under the policy limits) exceed available assets and the resources available to meet this gap; and
      (b) Reinsurance — the firm's providers, limits and claims.
      Amended: January 2007
      Amended: October 2007

    • BR-1.1.7

      The content of the Insurance Firm Return required to be submitted by an insurance firm in accordance with BR-1.1.5 must be in the format prescribed by the CBB and completed in accordance with any instructions specified by the CBB.

      Amended: January 2007

    • BR-1.1.8

      The Insurance Firm Return must be completed by every insurance firm licensed in Bahrain, in the following manner:

      (a) In the case of an insurance firm incorporated in Bahrain the Insurance Firm Return must be completed on an equity basis, (cost of investment plus share of profits and less share of loss and dividends declared) detailing all investments in subsidiaries; or
      (b)In the case of an overseas insurance firm licensed in Bahrain, the Insurance Firm Return must be completed in respect of the insurance business carried out by the overseas insurance firm in Bahrain.
      Amended: January 2007

    • BR-1.1.9

      The format of the Insurance Firm Return is included in Part B of the Rulebook as Form IFR, with forms applicable for conventional business, IFR(C) and for takaful business, IFR (T).