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  • Actuary's Financial Condition Report

    • BR-1.1.22

      An insurance firm carrying on long-term insurance business must commission a financial condition report (FCR) as required under Paragraph AA-4.1.3 and made pursuant to Paragraph AA-4.3.1 and must submit to the CBB an abstract of the actuary's report as prescribed in Paragraph BR-1.1.23.

      Amended: April 2014
      Amended: January 2007
      Amended: October 2007

    • BR-1.1.22A

      An insurance firm carrying on general insurance business must commission a financial condition report (FCR) as required under Paragraph AA-4.1.4 and made pursuant to Paragraph AA-4.3.1 and must submit to the CBB an abstract of the actuary's report as prescribed in Paragraph BR-1.1.23.

      Added: April 2014

    • BR-1.1.23

      An abstract of the actuary's report must be submitted in the prescribed form in compliance with the Valuations of Liabilities rules outlined in Chapter CA-5 and Rules outlined in Sections AA-4.3 and AA-4.3A, wherever applicable. The abstract must be signed by the actuary, recognised by the CBB in accordance with Chapter AA-4.

      Amended: April 2014
      Amended: October 2007
      Amended: January 2007

    • BR-1.1.24

      The abstract must include:

      (a) A summary and valuation of the policies; and
      (b) A valuation result and the actuary's opinion of the surplus available for distribution, for each of the separate funds maintained by the insurance firm.
      Amended: January 2007