Regulatory Alerts2024-01-28
Life and Unit-Linked Insurance
The Central Bank of Bahrain proposes a new Chapter BC-5 on Life and Unit-Linked Insurance under Module BC to standardize regulatory requirements for insurance firms. The consultation details specific amendments governing life and unit-linked policies, which will be published on the regulator’s website for public review. All insurance companies and external audit firms must submit their feedback, including nil responses, in an editable format by 28 January 2024.
Central Bank of Bahrain
مَعْرِضُ الْبَحْرَيْنِ المَلَكِيّ
OG/444/2023
31st December 2023
Chief Executive Officer
All Insurance firms
Manama
Kingdom of Bahrain
Dear Sir/Madam,
**Consultation: Life and Unit-Linked Insurance Requirements**
As part of the CBB’s initiatives to further enhance its regulatory framework, the CBB is hereby proposing a new Chapter BC-5 on “Life and Unit-Linked Insurance” under the Business and Market Conduct Module (Module BC) of the CBB Rulebook – Volume 3.
The proposed amendments under Module BC shall be available on the CBB website (www.cbb.gov.bh) under the “Open Consultations” Section.
The CBB requests you to provide your comments, including ‘nil comments’ on the proposed amendments in an editable format to consultation@cbb.gov.bh by 28th January 2024.
Yours faithfully,
Rasheed M. Al Maraj
Governor
cc: Bahrain Insurance Association
External Audit Firms
هاتف : +٩٧٣ ١٧٥٤ ٧٥٠٠ ، +٩٧٣ ١٧٥٤ ٧٥٠٠ فاكس : +٩٧٣ ١٧٥٢ ٧٧٩٩ ، ص.ب ٢٧، المنامة، مملكة البحرين
T +973 1754 7500, +973 1754 7555, F +973 1753 7799, P.O. Box 27, Manama, Kingdom of Bahrain, www.cbb.gov.bh
Share