Insurance Authority Board of Directors Decision No. 10 of 2016 Concerning the Instructions on Regulating the Business of the Existing Licensed Composite Insurance Companies

The Board of Directors of the Insurance Authority, having perused:

- The Federal Law No. 6 of 2007 concerning the Establishment of the Insurance Authority and Organization of its Operations, as amended;

- The Board of Directors Decision No. 2 of 2009 regarding issuing the Executive Regulations of the Federal Law No. 6 of 2007 concerning the Establishment of the Insurance Authority and Organization of its Operations;

- The Board of Directors Decision No. 25 of 2014 concerning the Financial Regulations for Insurance Companies;

- The Board of Directors Decision No. 26 of 2014 concerning the Financial Regulations for Takaful Insurance Companies; and

- Based on the recommendation of the Director General of the Authority, and the approval of the Board of Directors,

Has resolved:

Article 1

The existing licensed composite insurance companies shall comply with the following:

1. Performing complete separation between the insurance of persons and fund accumulation operations and property and liability insurance operation...