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  • Valuation of Assets and Liabilities

    • BR-1.1.10

      For the purposes of the Insurance Firm Return, the information submitted must include the amounts as per the audited financial statements, the value or amount given for an asset or a liability of the insurance licensee as determined in accordance with Chapter CA-4, Valuation of Assets and Chapter CA-5, Valuation of Liabilities, as well as the admissibility and counterparty limits of the firm's assets for purposes of calculating the firm's capital available.

    • BR-1.1.11

      The valuation of liabilities in respect of long-term insurance business must be made on a basis not less stringent than the minimum basis specified in Chapter CA-5. Should this long-term business relate to a jurisdiction other than Bahrain, the valuation basis adopted must be the more stringent of:

      (a) The basis specified in Chapter CA-5; and
      (b)The basis required by the law of that other jurisdiction for regulatory purposes.
      Amended: January 2007
      Amended: October 2007