Chairman of Insurance Authority Having considered:
- Federal Law No. 6 of 2007 on Establishment of the Insurance Authority and Organization of the insurance operations and its amendments;
- Board Decision No. 2 of 2009 related to the issuance of the Executive Regulation of the Federal Law No. 6 of 2007 on Establishment of the Insurance Authority and Organization of the insurance Operations and its amendments; and
- Pursuant to what has been presented by the Director General of the Authority and approved by the Insurance Authority Board of Directors, it was decided to issue the following Financial Regulations for Insurance Companies:
Section 1 – The Basis of Investing the Rights of the Policyholders.
Section 2 – The Solvency Margin and Minimum Guarantee Fund.
Section 3 – The Basis of Calculating the Technical Provisions.
Section 4 – Determining the Company’s assets that meet the accrued insurance liabilities.
Section 5 – The Records which the Company shall be obligated to Organize and Maintain as well as the Data and Documents that shal...