Solidarity Saudi Takaful Company said on Thursday that its accumulated losses declined to SAR 338.7 million, or 61.02 percent of its capital, after recording a net profit of SAR 3.5 million for May.
At the end of April, the insurer said it had accumulated SAR 342.2 million in losses, representing 61.6 percent of its capital.
The Saudi market regulator’s new regulations require listed companies with accumulated losses 50 percent or more of capital to publish monthly, unaudited financial statements.
|
Accumulated Losses |
|
|
May 2015 |
Period |
|
555 |
Capital (SAR mln) |
|
(338.68) |
Accumulated losses (SAR mln) |
|
61.02% |
Accumulated losses % |
|
Company Losses (Jan - May) |
|
|
May 2015 |
Period |
|
(62.09) |
Net loss (SAR mln) |
|
55.5 |
Number of shares (mln) |
|
(1.12) |
EPS (SAR) |
|
Insurance Operations |
|
|
May 2015 |
Period |
|
144.1 |
Gross premiums written (SAR mln) |
|
105.6 |
Net premiums written (SAR mln) |
|
98.5 |
Net claims incurred (SAR mln) |
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