Statements And Reports
Article Seventy-Two
The Company and the Insurance and Reinsurance Services Provider shall provide SAMA with all particulars and information in accordance with SAMA’s published guidelines to effectively conduct its supervisory duty.
Article Seventy-Three
1. The Company and the Insurance and Reinsurance Services Provider shall provide SAMA with financial statements audited by licensed certified public accountant in the Kingdom within 90 days from the end of the financial year of the company including as minimum income statement, financial position and cash flow statement.
2. The Company and the Insurance and Reinsurance Services Provider shall provide SAMA with the report of the certified public accountant and the financial statements within a maximum period of 60 days from the end of the financial year of the company for approval before publication.
3. The Company and the Insurance and Reinsurance Services Provider shall direct their auditors to submit to SAMA the management letter before publication of the financial statements.
Article Seventy-Four
Insurance Brokerage and Insurance Agency shall provide SAMA with the following particulars and information:
1. Semi-annual statement of all underwriting transactions and premium generated through their insurance and reinsurance business.
2. Detailed semi-annual statement reflecting the Company’s uncollected premium.
3. Semi-annual statement of earned commissions and fees.