MedGulf submits capital cut request to CMA

12/09/2017 Argaam

The Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) has submitted today a capital reduction request to the Capital Market Authority (CMA), the company said in a statement to Tadawul.

 

Last month, MedGulf received the approval of the Saudi Arabian Monetary Authority (SAMA) to reduce capital by SAR 600 million to SAR 400 million to narrow its accumulated losses.

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