Sanad Insurance and Reinsurance Cooperative Company announced the elements of its restructuring plan which was approved by the board of directors on September, 04, 2014, as follows:
- Capital raise.
- Cancelling reinsurance license.
- Administrative restructuring including the appointment of the Chief Executive and all the vacant key positions in the company.
- Financial restructuring including the establishment of a collection department and reducing the Company’s accumulated losses.
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