Wafa Insurance expects to disclose Q2 2019 results by Jan 2020

Saudi Indian Company for Cooperative Insurance (Wafa Insurance) expected to disclose its financial statement for the second quarter of 2019 by January 30, 2020, the company said in a bourse statement.

Wafa Insurance was unable to publish its financial results on time as it hasn’t completed the required procedures to prepare the statements for the period ended March 31, 2019, which are currently being prepared with external auditors, the statement noted.

It would be difficult to measure the financial impact of delay, the insurer added.

According to data compiled by Argaam, Wafa Insurance announced on Dec. 1 postponing for the second time the announcement of its financial statements for the period ended March 31, 2019 until December 31, 2019.

In September, the insurance company said it would publish its financials for Q1 2019 by November 30, 2019.