Gulf General to increase technical reserves by SAR 3.9 mln

20/03/2018 Argaam

 

Gulf General Cooperative Insurance Co’s technical reserves will increase by SAR 3.9 million based on a recommendation from the appointed actuary, it said in a statement to Tadawul on Tuesday.

 

The increase awaits approval from auditors, audit committee, the board of Directors and SAMA. The updated figures will be reflected in 2017 financial statements, and if the action is approved, the impact would be SAR 3.9 million, the company said.

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