Wafa Insurance settles dispute with Watad Insurance out of court

17/11/2014 Argaam

Saudi Indian Company for Co-operative Insurance, or Wafa Insurance, has settled a dispute with Watad National Company for Insurance Agency out of court, the company said in a statement to the Saudi bourse, Tadawul.

 

Watad dropped the case on Nov 16, 2016. The settlement will reflect positively on the financial results of Wafa starting in the 4th quarter.

 

Wafa’s marketing partner, Watad, filed a case in August against Wafa demanding SAR 26.2 million, or up to 5 percent of its capital over unpaid dues, according to Argaam.

 

Wafa has  SAR 100 million in capital spread over 10 million shares. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.