Arab Finance: The Financial Regulatory Authority (FRA) has obliged insurance companies to prepare indicative pricing studies for their various products and to review them annually, according to a statement on September 18^th.

These studies must be approved by an actuary expert and the company’s head, taking into account each insurance category separately.

Insurance firms also have to submit a copy of these studies to the FRA within a month from the start of the fiscal year annually.

Moreover, the firms shall provide a report on their business results for a period of at least five years to be reviewed by the FRA.

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