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  • WAICA Reinsurance Corporation PLC.: ST TH

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    Mr Dampha
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    WAICA Reinsurance Corporation provides a facultative credit note to Royal (GAM) Ltd for reinsurance on a fire insurance policy. The primary insured is Sohar Steel LLC, with a period of coverage from July 2014 to June 2015. WAICA's share of the total sum insured of RO 49,791,600 is 0.45%. Royal (GAM) Ltd's share of the premium is RO 17.17, with an overriding commission of 5% reducing their net premium due to RO 16.31.

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    Shoar Steel Llc ROYAL

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    WAICA Reinsurance Corporation provides a facultative credit note to Royal (GAM) Ltd for reinsurance on a fire insurance policy. The primary insured is Sohar Steel LLC, with a period of coverage from July 2014 to June 2015. WAICA's share of the total sum insured of RO 49,791,600 is 0.45%. Royal (GAM) Ltd's share of the premium is RO 17.17, with an overriding commission of 5% reducing their net premium due to RO 16.31.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    3 views1 page

    WAICA Reinsurance Corporation PLC.: ST TH

    Uploaded by

    Mr Dampha
    WAICA Reinsurance Corporation provides a facultative credit note to Royal (GAM) Ltd for reinsurance on a fire insurance policy. The primary insured is Sohar Steel LLC, with a period of coverage from July 2014 to June 2015. WAICA's share of the total sum insured of RO 49,791,600 is 0.45%. Royal (GAM) Ltd's share of the premium is RO 17.17, with an overriding commission of 5% reducing their net premium due to RO 16.31.

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    © All Rights Reserved
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    WAICA Reinsurance Corporation PLC.

    FACULTATIVE CREDIT NOTE /CLOSINGS

    TO – ROYAL (GAM) LTD

    Thursday, 01 February 2018

    CEDANT : THE NEW INDIA ASSURANCE CO. LTD

    PRIMARY INSURED : SOHAR STEEL LLC

    TYPE OF COVER : FIRE, LIGHTNING AND ALLIED PERILS

    PERIOD OF COVER : 1ST JULY 2014 TO 30TH JUNE 2015

    TOTAL S/I : RO 49, 791,600.00

    ORIGINAL PREMIUM : RO 57, 260.00

    R/I COMMISSION : 20%

    DEDUCTION :2.5%

    WAICA’S SHARE : 0.45% OF 100% - RO 199.69

    SHARE PLACED : 8.60%

    YOUR SHARE PREMIUM : RO 17.17

    LESSOVERIDING 5% : RO 0.86
    COMMISSION

    NET PREMIUM DUE TO /FROM YOU: RO 16.31

    REINSURER AGREES TO FOLLOW ALL TERMS, CLAUSES AND CONDITIONS AS


    ORIGINAL WITHIN THE TERMS OF REINSURANCE.

    PREPARED BY:......................................... APPROVED BY:...........................................

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