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الاحتياطات الربعية

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date_gregorian=2018-08-09 date_hijri=1439-11-27 document_type=guide entity=language:ar entity=format:application/pdf language=en taxonomy_l1=economy_finance taxonomy_l2=insurance validity=valid validity_confidence=0.6

Saudi Arabian Monetary Agency
Head Office
General Department of Insurance Control
No.201808/164/р.е.д
Date:△1439/11/27
09/08/2018
Attachments: 1
Chief Executive Officer
Subject: Quarterly Reserves
Based on Article (11) of the Law on Supervision of Cooperative Insurance Companies, which grants SAMA the right to require insurance and/or reinsurance companies to provide it with any information its sees necessary to realize the objective of the law.
SAMA requires each insurance and/or reinsurance company to submit, going forward, the results of its quarterly reserving exercise in the attached format (“reserving template”) in order to assess the adequacy of technical reserves held by insurance and/or reinsurance companies in quarterly financial statements. The reserving template must be submitted for every quarter, except for Q4 when a separate detailed template will be required.
Below is the submission schedule for the above information:
- Q1 reserving template will be due by 30 \( ^{th} \) April.
- Q2 reserving template will be due by 31 \( ^{st} \) July (for year 2018, this is extended to 30 \( ^{th} \) Aug).
- Q3 reserving template will be due by 31 \( ^{st} \) October.
SAMA requires strict adherence to the instructions contained within the reserving template.
SAMA may update the above reserving template from time to time, in which case a revised template will be shared in advance of the due date.

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