11 Oct 2018
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.