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IM-3.1.2

Past version: Effective from 01 Jul 2007 to 30 Sep 2007
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Bahraini insurance brokers must maintain in their insurance brokerage business at all times the greater of:

(a) A minimum net assets value of BD 50,000;
(b) 4% of client money balances held in Bahrain; or
(c) 4% of annual income from global insurance broking activities.

There are no minimum capital and net asset requirements for overseas insurance brokers. However, for overseas insurance brokers, financial statements of the parent company must be submitted to the CBB for review, in order to assess the financial stability of the group on a global basis.

Rulebook Reference CA-1.3
Amended: January 2007