Newsroom

11 Oct 2018

Surplus Distribution

Surplus Distribution

We are pleased to inform you relating to the distribution of Policy holders’ surplus. In accordance with the Article 70 of the Implementing Regulations for insurance and reinsurance companies issued by Saudi Arabian Monetary Authority (SAMA), ten percent (10%) of the net surplus from the insurance operations should be distributed to the policyholders

The surplus for the financial year ended 31 December 2017, is payable only to the eligible customers in accordance with the eligibility criteria defined in ‘Surplus Distribution Policy’ issued by SAMA. Such surplus will be settled in the form of cheque, bank transfer, deduction from outstanding balance or discount from renewal premium. For the financial year 2017, the Company is currently completing necessary regulatory formalities and eligible customers will be notified in due course.

Read More
Download PDF

11 Oct 2018

Dear ladies and gentlemen, All companies, businesses, or entities which make an annual taxable between 375,000 SAR and 1,000,000 SAR need to register for VAT by 20th December 2018. For more information and to register in your businesses, please visit VAT.GOV.SA