SAICO cuts accumulated losses to 17.1% of capital

Logo of Saudi Arabian Cooperative Insurance Co. (SAICO)

The Saudi Arabian Cooperative Insurance Co. (SAICO) trimmed its accumulated losses to SAR 51.2 million as of June 30, 2024, which is 17.07% of its SAR 300 million capital.

 

In a statement on Tadawul, SAICO said that this reduction is mainly due to improved financial performance in recent quarters.

 

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The board of directors and executive management are focused on strengthening the financial position through sustainable growth, better operational efficiency, and cost control.

 

For details on the company's financial position following the reduction, please refer to the attached auditor's report:

 

Auditor's Report

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