Wafa Insurance updates expected dates for publishing late financials

Logo of Wafa Insurance

Saudi Indian Company for Cooperative Insurance (Wafa Insurance) announced updates about the expected dates for publishing the late financial statements, as follows:

1) The interim financial statements for the period ending on March 31, 2020, are expected to be published before July 31, 2021.

2) The interim financial statements for the period ending on June 30, 2020, are expected to be published before Aug. 31, 2021.

3) The interim financial statements for the period ending on Sept. 30, 2020, are expected to be published before Sept. 30, 2021.

4) The annual financial statements ending on Dec. 31, 2020, are expected to be published before Nov. 30, 2021.

5) The interim financial statements for the period ending on March 31, 2021, are expected to be published before Dec. 31, 2021.

The company ascribed this to what it has been exposed to in the previous period of being subjected to financial reorganization procedures in accordance with the Saudi bankruptcy law, which caused a delay in publishing financial statements for previous periods on their regular dates.

It also highlighted the necessity of first completing the publication of the late financial results of previous periods.

The financial statements for the above-mentioned periods will be published sequentially according to the arrears, the company noted.

The related financial impact cannot currently be determined, and the impact - if any - will be disclosed in due course.