Insurance & Reinsurance
Assure Consulting has served CBB-licensed insurance and reinsurance companies — Islamic and conventional — for over 20 years. We understand the regulatory environment, the operational pressures and what boards and audit committees need from an independent advisor.
Services for insurance & reinsurance companies
Risk-based internal audit delivered to IIA standards — covering underwriting, claims, reinsurance, finance and IT controls for CBB-licensed entities.
Independent AML framework audits aligned to CBB AML/CFT Module requirements, including customer due diligence, sanctions screening and STR processes.
Enterprise risk frameworks, risk registers and board-level governance reporting tailored to the insurance sector.
Comprehensive policy suites covering underwriting, claims, reinsurance, finance and compliance — ready for CBB submission.
Regulatory assignments commissioned or required by the Central Bank of Bahrain, including thematic reviews and compliance gap assessments.
Personal Data Protection Law readiness assessments and implementation support for insurers handling sensitive customer data.
Rapid diagnostic of financial controls, governance structure and operational effectiveness — useful before a CBB inspection or board review.
Advisory support for insurers undergoing capital restructuring, run-off or regulatory-driven remediation.
Selected credentials
AML manuals developed for 22 insurance companies licensed with the Central Bank of Bahrain
20+ years of audit and secondment support for Bahrain insurance companies
Policy and procedure manuals prepared for a significant share of Bahrain's insurance sector
Financial restructuring support delivered for a major Bahrain insurance entity
Internal audit co-sourcing and outsourcing for multiple CBB-licensed insurers
Governance and compliance frameworks developed for Islamic takaful operators
Selected credentials presented without disclosing confidential client relationships.
Key CBB requirements for insurers
The Central Bank of Bahrain sets detailed requirements for licensed insurers across governance, audit, AML and data protection. Assure Consulting helps boards and management stay ahead of these obligations.
Governs conventional insurance and reinsurance licensees — sets out capital, solvency, governance and conduct requirements.
Additional requirements for takaful and retakaful operators, including Sharia supervisory board governance.
Requires insurers to maintain written AML policies, conduct periodic AML audits and file STRs with the Financial Intelligence Unit.
Bahrain's Personal Data Protection Law applies to all insurers processing policyholder data — includes breach notification obligations.
CBB requires licensed insurers to maintain an independent internal audit function with direct reporting access to the board audit committee.
Working with a CBB-licensed insurer or takaful operator?
Our partners have worked with insurance companies in Bahrain for over two decades. We understand the regulatory environment and deliver directly — no junior-only teams.