Wafa Insurance sets new date to disclose Q1 2019 results

Saudi Indian Company for Cooperative Insurance (Wafa Insurance) is expected to disclose the preliminary financial statement for the first quarter ended March 31, 2019, by March 31, 2020.

The company said in a bourse filing that the reason for the delay is non-completion of the procedures required to complete the financial statements, adding it is currently working with the external auditors to complete them.

Wafa Insurance noted it would be difficult to measure the financial impact of delaying the publication of its financial results, and any development will be disclosed in due course.

Previously, the insurer announced to publish the financial statement by February 29, 2020.

Trading has been halted on the company’s shares in line with the listing regulations announced on March 25, 2019.