Logo of Saudi Arabian Cooperative Insurance Co. (SAICO)
Saudi Arabian Cooperative Insurance Co.’s (SAICO) board of directors recommended, on Nov. 12, to use SAR 39.09 million from the total statutory reserve balance of SAR 43.69 million, to offset accumulated losses.
SAICO’s accumulated losses as of Sept. 30, 2024, stood at SAR 39.09 million, which represents 13.03% of the capital.
In a statement to Tadawul, the insurer said the recommendation will be submitted for approval during the extraordinary general assembly (EGM), obtaining the required approvals from the relevant regulatory authorities.
For more news on listed companies
SAICO will announce any fundamental developments in due course, the statement added.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}