INTER-OFFICE MEMO

REFERENCE HO-000-AA-FA-ME-1609

DATE 17 JANUARY 2022

APPROVAL FORABV CORPORATE MOTOR INSURANCE POLICY 2022

SUBJECT
COMPREHENSIVE - 0-12285029-2. THIRD PARTY LIABILITY - 0-12285029-3

TO BILALAHMED

FROM FINANCE DEPARTMENT -INSURANCE SECTION

Dear Sir,
Motor Insurance Policy for Company vehicles is falling due for renewal on 11 January 2022.
Further details are as under:

TITLE OF CONTRACT ABV ROCK GROUP LIMITED CORPORATE MOTOR INSURANCE POLICY 2022

NUMBER OF VEHICLES 625

INSURANCE PERIOD 11 JANUARY 2022 TO 10 JANUARY 2023

SUM INSURED SR 29,560,254

EXPIRING RENEWAL RENEWAL

POLICY - POLICY - POLICY - 2022
2021 2022 (COMPANY COST)
Seating capacity up to 9 2.25 % 0.85% 1.64%
Seating capacity from 10
2.50% 0.85% 1.26%
to 25
INSURANCE RATE Seating capacity from 26
3.50 % 0.85% 2.85%
and more
Agency repair NIL 1.80% 1.80%
Third Party Liability SR 1,575 SR 2,150

SAICO Insurance Company offered the above rates with minimum premium
for Sedan, Jeep, Pickup and vans SR 600, Buses & Trucks SR 1,100

PREMIUM SR 528,998

PREMIUM INCLUSIVE OF VAT

SR 608,347.70
@15%

TERMS AND CONDITIONS All terms and conditions remain unchanged as of the expiring policy.

The quotation is market competitive and has required coverage, thus recommended for your approval after which,
confirmation will be sent to SAICO for the issuance of Policies and Certificates for all insured-vehicles.

This Memo is for your information and notification and for the advice, if any.

Best regards,
Recommended by Reviewed by
,

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Senior Insurance Admin.
:!2ti~)·\~~.
Assistant Finance Manager