Books and records to be maintained at registered office

(1) Every registrant shall maintain permanently at its or his principal office in Belize such books of accounts and records of its or his insurance business or such business which it manages or represents and records of its or his administrative and financial affairs– (a) as will show adequately the type and classes of international insurance business carried on, managed or represented by the registrant in or from within Belize; and (b) as will enable the Supervisor at any time to conduct a proper examination of the registrant’s affairs and to ascertain with reasonable accuracy its or his financial position. (2) Without prejudice to the generality of subregulation (1) above, the books and records to be kept in the case of a 12 International Insurance registered insurer at its or his principal office in Belize shall include– (a) financial statements including records of its or his assets and liabilities, receipts and expenditure; (b) a record of premium and income and claims paid including reinsurance; (c) a register of the registered insurer’s directors and officers showing their names and addresses; (d) minutes of all proceedings of the registered insurer’s general meetings, including meetings of its directors and its Committees; (e) general and subsidiary ledgers and general journals; (f) a record of the registered insurer’s reinsurance programs or treaties showing underwriting limits by each class of insurance and amounts retained by the registered insurer; (g) an up-to-date list of all the registered insurer’s agents and producers; (h) any other registers or records as may be directed or authorised by the Supervisor.