Wafa Insurance unable to disclose Q2 2021 financials on time

Wafa Insurance office

Saudi Indian Company for Cooperative Insurance (Wafa Insurance) said it was unable to disclose its financial results for the first six months of 2021, within the specified time.

The company said in a bourse statement that it did not finalize the publication of the financial results for the previous periods, starting from the financial results for the period ending on March 31, 2020.

The relevant financial impact cannot be currently estimated, but any financial impact will be disclosed duly. The company is currently subject to a financial reorganization procedure under the Saudi Bankruptcy Law.

The company will disclose any developments in due course.

Trading will be suspended on the stock as per the listing rules announced by the Saudi Exchange (Tadawul) on March 25, 2019, the statement concluded.