SAICO shareholders approve board, audit reports for FY2019

Saudi Arabian Cooperative Insurance Co.’s (SAICO) shareholders approved financial statements, as well as board and audit reports for the fiscal year 2019, during the ordinary general meeting held on May 14, the company said in a bourse statement.

Shareholders also appointed PKF Al Bassam & Partners as a new company auditor to audit the company’s financial statements for Q2, Q3, Q4, FY2020 and Q1 2021.

They also discharged the board of directors from liabilities and approved SAR 660,000 as board remuneration for FY2019.