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AU-2.1.1

Except for captive insurers, the legal status of an insurance firm must be:

(i) A Bahraini joint stock company (BSC);
(ii) A branch resident in Bahrain of a company incorporated under the laws of its territory of incorporation and (where local regulation so requires) authorised as an insurance or reinsurance firm in that territory; or
(iii) A Bahraini exempt company (E.C.) which was incorporated and licensed to conduct insurance business prior to 1st January 2005.
Amended: July 2007