Wafa Insurance granted 150 days to submit restructuring plan

13/02/2019 Argaam

 

Saudi Indian Cooperative Insurance Co. (Wafa) said on Wednesday that a Saudi court has overturned a previous decision to reject the company’s request for financial restructuring.

 

The court has also granted the insurer 150 days to submit the proposed restructuring plan, Wafa said in a bourse statement.

 

It is currently difficult to estimate the related financial impact, the statement added.

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