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AA-4.2.9

For the purpose of this Section, a related party of an insurance firm includes:

(a) A controller of the insurance firm as defined in Section GR-5.2;
(b) A close link of the insurance firm as defined in Section GR-6.2;
(c) An associate of a controller as defined in Paragraph GR-5.2.2;
(d) The extended family of a controller including a father, mother, father-in-law, mother-in-law, brother, sister, brother-in-law, sister-in-law, or grandparent;
(e) A corporate entity, whether or not licensed or incorporated in Bahrain, where any of the persons identified in Subparagraphs (c) and (d) is a Director or would be considered a controller were the definition of controller set out in Paragraph GR-5.2.1 applied to that corporate entity; and
(f) An employee of an insurance firm that is related to the insurance firm submitting the FCR required under this Chapter.
Amended: April 2014
Added: October 2007