New actuarial requirements for Bahraini insurers

The Central Bank of Bahrain (CBB) has issued new guidelines requiring insurance companies to establish an internal actuarial structure within their organization.

The new regulations also require all insurance companies to recruit domestic talent to become qualified actuaries.

The publication of the new rules follows the launch of a joint initiative between the Labour Fund (Tamkeen), the CBB, the Institute and Faculty of Actuaries in London and the Bahrain Institute of Banking and Financial Studies (BIBF) to create employment opportunities for Bahrainis and strengthen the local insurance market.