Annually and for each reporting period as specified by SAMA the Appointed Actuary shall:
| 1. | Determine and recommend to the Board of Directors and Senior Management the Company's Insurance Contract Assets and Liabilities (including where relevant Technical Provisions), using appropriate methodologies and assumptions for their determination, consistent with current financial reporting standards applicable in the Kingdom.
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| 2. | Perform actual versus expected analysis by comparing actual experience with previous relevant estimates of claims and other liabilities where relevant.
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| 3. | Prepare the appropriate reports in accordance with SAMA instructions.
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| 4. | In respect of Protection and Savings insurance business,:
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| | a. | Determine and ensure the adequacy of the Insurance Contract Assets and Liabilities (including where relevant) Mathematical Reserves).
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| | b. | Advise on the determination of the allocation of surplus, profits or bonuses to the policyholders.
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