ACIG’s accumulated losses slips below 35%

Allied Cooperative Insurance Group’s (ACIG) accumulated losses declined to SAR 69.3 million, or 34.65 percent of its capital, the company said in a statement to Tadawul on Tuesday.

ACIG will be subject to the Saudi Capital Market Authority’s (CMA) regulations that govern listed companies with accumulated losses of over 20 percent and less than 35 percent of capital, the Saudi Stock Exchange said in a separate statement today ahead of putting a yellow flag next to the company on the website.

Last month, ACIG’s accumulated losses have reached SAR 73.7 million, or 36.9 percent of its capital, Argaam reported earlier.