The Membership of the Syndicate is open to insurance and reinsurance companies registered in any Arab country, bearing in mind no admission fees are required.
Provided the applicant company fulfills the following minimum conditions:
- Signing the Membership Application form.
- Agreeing to be bound by the Syndicate Agreement and Articles of Association.
- The approval of the executive management in accordance with the guidelines set by the General Assembly.
- Agreeing to cede 100% of Co.�s marine war business.
The Liability of the Members company is limited to its priority share for each year.
Membership in the Syndicate takes effect on company�s treaty anniversary commencement date.
The company after being a member will get the following benefits.
- Increase in commotion and profit commission.
- Automatic Fac cover for the sum insured exceeding Co.�s treaty capacity with reasonable level commission.
- List of applicable rates & H/C Areas.
- Sharing year end profits.
Upon reviewing the �Syndicate Agreement� and �Articles of Association� the applicant should:
- Fill and sign a �Information Sheet� .
- Send the forms by Fax or email to the Syndicate.
- Send the original forms together with copies of the applicant�s Financial Statements for the last year by courier service or registered mail to the Syndicate address.