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Based on the item (I) of Article (29) of the Insurance Regulatory Act issued an order the Council of Ministers then (10) for the year 2005. We have issued the following instructions:
No. (3) for the year 2006
Instructions
Security deposit
Article 1
Edit text of this article under Instructions No. (15) for the year 2012
First - set the minimum capital due to the insured provided for in Article (28) of the Insurance Regulatory Act issued Order No. (10) for the year 2005 b (5 billion) five billion dinars.
Secondly - sets the minimum capital, which establishes the insured after the effective date of these instructions to (15000000000) fifteen billion dinars.
Article 2 - determine the security deposit according to the following:
First - (3%) Thirty percent of the minimum prescribed capital of the insured
To exercise the type of life insurance to one branch or more.
Secondly - (10%) ten percent of the minimum capital to be insured to practice all branches of general insurance, including no more than (30%) thirty percent of the minimum capital decision.
Thirdly - depends Mahddtan percentages in clauses (i) and (ii) of this article for the exercise of re-insurance exclusively (depending on the two types of insurance and their branches), as set forth in item (ii) of Article (27) of the law regulating the insurance business.
Article 3 - carry out these instructions from the date of publication in the Official Gazette
Chief of Staff Insurance (Agency)
[You must be registered and logged in to see this link.]
No. (3) for the year 2006
Instructions
Security deposit
Article 1
Edit text of this article under Instructions No. (15) for the year 2012
First - set the minimum capital due to the insured provided for in Article (28) of the Insurance Regulatory Act issued Order No. (10) for the year 2005 b (5 billion) five billion dinars.
Secondly - sets the minimum capital, which establishes the insured after the effective date of these instructions to (15000000000) fifteen billion dinars.
Article 2 - determine the security deposit according to the following:
First - (3%) Thirty percent of the minimum prescribed capital of the insured
To exercise the type of life insurance to one branch or more.
Secondly - (10%) ten percent of the minimum capital to be insured to practice all branches of general insurance, including no more than (30%) thirty percent of the minimum capital decision.
Thirdly - depends Mahddtan percentages in clauses (i) and (ii) of this article for the exercise of re-insurance exclusively (depending on the two types of insurance and their branches), as set forth in item (ii) of Article (27) of the law regulating the insurance business.
Article 3 - carry out these instructions from the date of publication in the Official Gazette
Chief of Staff Insurance (Agency)
[You must be registered and logged in to see this link.]
