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CA-1.2.2

Bahraini insurance firmsG licensed prior to 1 April 2005 that do not meet the requirements of Paragraph CA-1.2.1, will be required to meet the requirements for minimum Tier 1 capital by 31 December 2007. In addition, the requirements to maintain a capital availableG in excess of the greater of the Required Solvency MarginG and minimum fundG must be met by insurance firmsG by 31 December 2005. Insurance firmsG who are in run-off and whose license is restricted from entering into new contracts of insurance as per Paragraph GR-8.1.8, are grandfathered and not required to apply the requirements of Paragraph CA-1.2.1 (refer to ES-2.6.2).

Amended: January 2007
Amended: October 2007
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