MEDGULF cuts accumulated losses to 17.06% of capital

04/06/2020 Argaam

 

The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) reduced accumulated losses to SAR 136.48 million, or 17.06% of its capital as of June 3, 2020, the company said in a statement to Tadawul on Thursday.

 

These losses were reduced, as the company used SAR 120 million from statutory reserve to offset accumulated losses.

 

The insurer added that there is no financial impact of the statutory reserve on its liabilities.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.