Gulf General cuts accumulated losses to 18.8% of capital

07/08/2019 Argaam

 

Gulf General Cooperative Insurance Co. reported SAR 37.68 million in accumulated losses, accounting for 18.84 percent of its capital as of June 30, 2019, the company said in a statement to Tadawul on Wednesday. 

 

These losses were reduced due to the improved performance of Gulf General’s insurance portfolio, a decline in technical reserves, and higher income from shareholders’ investments.

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