Amana Insurance Co.’s accumulated losses reached SAR 204.1 million by the end of November, accounting for 63.7 percent of its capital, the company said in a statement to Tadawul.
The insurer recorded a profit of SAR 7.13 million (before Zakat) in November alone. For the first 11 months of 2015, it incurred a net loss of SAR 8.22 million (before Zakat).
Under rules set by Saudi Arabia’s Capital Market Authority (CMA), the kingdom’s market regulator, listed companies with accumulated losses of 50 percent of capital or higher are required to publish monthly unaudited financial statements.
|
Accumulated Losses (as of November 30) |
|
|
320 |
Capital (SAR mln) |
|
(204.1) |
Accumulated losses (SAR mln) |
|
63.7% |
Accumulated losses (percentage of capital) |
|
Net Loss (January-November 2015) |
|
|
2015 |
Period |
|
(8.22) |
Net loss before Zakat (SAR mln) |
|
32 |
Number of shares (mln) |
|
(0.26) |
EPS (SAR) |
|
Insurance Operations (January – November 2015) |
|
|
Jan.- Nov. 2015 |
Period |
|
400.2 |
Gross written premiums (SAR mln) |
|
322.2 |
Net written premiums (SAR mln) |
|
201.7 |
Net incurred claims (SAR mln) |
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