Sanad Cooperative Insurance Company reported a net loss of SAR 1.73m for the month of October making a net loss of SAR 26.4m for the first ten months of 2014.
 

Accumulated losses until October 2014

October 2014

Period

( 26.4 )

Net losses before Zakat (SAR mn)

20

Number of shares (mn)

(1.32)

EPS(SAR)
 

Insurance operations until October 2014

October 2014

Period

122.6

Gross Written premium (SAR mn)

72.0

Net written premium (SAR mn)

87.1

Net incurred claims(SAR mn)
 

Sanad’s accumulated losses increased to SAR 164.7m or 82.4% of its capital after reporting October’s net loss.
 

Accumulated losses

October 2014

Period

200

Capital (SAR mn)

(164.7)

Accumulated losses(SAR mn)

82.4%

Accumulated losses % of the capital
 

 

 

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