1Regulation of Reinsurance Activities

Regulations. This should include reinsurance agreements given the following: و .- ا5QHظ .* ,_D إ#دة ا و9 ً "دة ا ١٧ H ة  أ ا&%$ اH( Gم ا 1آت ا اوJ أن ا,Hت إ#دة ا B ,Zf ا b, a) The period for each agreement and the changes made thereto shall be stated separately with the capacity and type of each agreement. 2"# m;9ة آ* ا,H واoات ا أ +Y*  * B Q.g آ* ا,H وJ#2 b) The names and ceded percentage or amount for each reinsurers and the company’s retention percentage or amount for each class of insurance. g5ا وا  اة أو ا"© Y* 1آ إ#دة , وJ اQHظ 1آ ا أو ا5QHظ Y* 9t  ا c) Summary of all reinsurance agreements and other particulars deemed necessary by the company. "Ož .B ا,Hت إ#دة ا واHe* ا<[ى ا2 A reinsurance accounts register shall be maintained in accordance with Article 71 section 3b) of the Implementing Regulations. It should contain all ceding statements to reinsurers. Procedures should be in place to allow management to evaluate and monitor the application (and hence the effect) of the reinsurance program to the gross provision for claims outstanding (including claims incurred but not reported). Appropriate systems should be in place to evaluate and monitor the company's credit risk exposure to individual reinsurers. Management should update the provision for reinsurance bad and doubtful debts on a regular basis in accordance with Article 69 of the Implementing Regulations. Further detailed recommendations on risk management and governance and their interrelationship with reinsurance will be issued in separate regulatory guidance notes. -.و ا5QHظ .* Q ت إ#دة ا و9 ً "دة ا g ٣-ب ا&%$ اH( Gم ا 1آت ا اوJ أن +* ه(ا ;B Jت ا`د +آت إ#دة ا و ,ا9 إ;اءات ,f ªدارة , g وا ,MD و,_ Jj إ#دة ا OKKت اMت ا"ّ   9 ذ7 ا<[Mر ا وm وg ُM- و .- وZB أJG   g وا O\ ا5%ن ى ا+آ ,.' 1آت إ#دة ا و #"! ا`دارة ,$w اOKKت ن إ#دة ا اVة وا+Yك 9 ,$K"2 #"! أس Gg و9  < QYم ا دة ا&%$ اH( Gم ا 1آت ا اوJ و g إeار ,e ت HK" إZ9 Qل إدارة اO\ وا$آ وار,\2 a#دة ا 9 ا%f ,G  " Accounting for Reinsurance G. / ت إ دة ا All proportional reinsurance premiums must be accounted in line with the ّg, ا$ # ;B أط إ#دة ا ا +Y* ازٍ B أط ا ا1  ا  ا اديSaudi Arabian Monetary Agency إدارة ا اInsurance Supervision Department corresponding direct insurance premiums. All fixed proportional reinsurance commissions must be earned in line with the corresponding reinsurance premiums. Any variable reinsurance commissions, or other profit sharing mechanisms, on proportional treaties should be accrued during the year taking into account the expected gross results, allowing fully for claims reserves including IBNRs. Any reinsurance treaties which include “swing rates”, where the reinsurance premium is adjusted based on the experience under the treaty, should accrue the reinsurance premium based on the expected ultimate results allowing fully for claims reserves including IBNRs.  ا وYن ا $ ق #5ت إ#دة ا ا اV و9 ً <ط إ#دة ا ا  وYن ا$ ق #5ت إ#دة ا اoة أو vت ا+رآ 9 ا<ر ح ا<[ى اOe