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Surplus Distribution Registration

Surplus

Distribution

Surplus Distribution Overview

The insurance surplus is the process of sharing the subscription and investment income between the insurance operators and the participants in the insurance base, at the end of the policy based on the agreed upon percentage of participation. According to Article 70 (2 e) of the Executive Regulations of the Law on Supervision of Takaful Insurance Companies from the Central Bank of Saudi Arabia, insurance companies are required to distribute 10% of the net surplus from insurance operations to policyholders.

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What is insurance surplus?

It is what remains in the Participants Fund of the total contributions (and their investment profits and any other dues) after the company deducts its management fees, settled accepted insurance claims, paid reinsurance premiums, any fees payable to other parties, and set aside any reserves related to the Participants Fund.

How do I qualify for insurance surplus?

In accordance with the insurance operations surplus distribution policy issued by the Saudi Insurance Authority; To be eligible for the insurance surplus, the percentage of the total claims amounts incurred must be less than 70% of the total premiums earned.

How will the surplus be distributed?

Participants who are eligible for the surplus distribution have the option of receiving their share of the surplus via transfer to their bank accounts, or requesting that the amount due be deducted from the subscription amount upon renewal. They can also authorize the company to donate their entitlements to licensed charities that the participant specifies with his/her written permission

AL Rajhi Takaful Branches and Claim Center Online Insurance | Privacy Policy

Saudi Arabia

AL Rajhi Takaful Branches and Claim Center Online Insurance | Privacy Policy

Saudi Arabia

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