Surplus Distribution


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Surplus Distribution

As per SAMA approval for surplus distribution of Walaa Cooperative Insurance Company for the Financial Year , which in accordance with SAMA Surplus Distribution Policy regulations and in accordance the Article 70 (2/e) of the Implementing Regulations of the Law on Supervision of Cooperative Insurance Companies.

Walaa is pleased to inform you that your contract is eligible to a share of Surplus Distribution subject to settlement of outstanding dues/ premiums including VAT if any.

VAT has been applied @ 5% as required by article 21 of the Value Added Tax Law and article 79 of its Implementing Regulations, on effective policy period after January 01, 2018 in proportionate to the unearned premium pertaining to the remaining period after the effective date of the law.

From the computation wherever required, the VAT has been adjusted from Surplus.

We would like to take this opportunity to express our gratitude for the confidence you have given to Walaa. We also look forward to providing you with more quality services in the future.

Should you have any queries, please email us via surplus@walaa.com or Call 92-000-1742 / 8001199222

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