The Insurance Act, 2005 - Bahamas Financial Services Board

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“specified classes” means the classes of ordinary life
insurance business, variable life insurance business,
industrial insurance business, sickness and health and such
other classes as may be prescribed.
Prepara- 58. (1) Subject to subsections (4) and ( 11),
tion of every insurer registered under this Act shall, at the
annual
end of each financial year, prepare in the prescribed
accounts, form and manner -
etc. (a) a general balance sheet showing
the financial position of all the
insurance business of the company at the
close of that year;
(b) except in the case of a mutual company,
a profit and loss account in respect of
all its insurance business in that year;
and
(c) separate revenue accounts for -
(i) life insurance business,
(ii) industrial life insurance
business,
(iii) bond investment business,
(iv) such other class or classes of
insurance business as may be
prescribed;
(d) an analysis of its long-term policies in
force at the end of that year;
(e) a certificate that the assets of its
insurance business are in the aggregate
at least of the value shown in the
balance-sheet;
(f) where the company carries on -
(i) life insurance business, a