Sanad Cooperative Insurance and Reinsurance Company said on Sunday that its accumulated losses rose to SAR 165.45 million, or 82.72 percent of its capital, after it reported a net loss of SAR 1.96 million for May.
At the end of April, the insurer said it had accumulated SAR 162.22 million in losses, representing 81.11 percent of its capital.
The Saudi market regulator’s new policy requires listed companies that have accumulated losses equal to 50 percent or more of their capital to publish monthly, unaudited financial updates.
|
Accumulated Losses |
|
|
May 2015 |
Period |
|
200 |
Capital (SAR mln) |
|
(165.45) |
Accumulated losses (SAR mln) |
|
82.72% |
Accumulated losses % |
|
Company Profit (Jan - May) |
|
|
May 2015 |
Period |
|
(4.0) |
Net loss (SAR mln) |
|
20 |
Number of shares (mln) |
|
(0.2) |
EPS (SAR) |
|
Insurance Operations |
|
|
May 2015 |
Period |
|
0.55 |
Gross written premiums (SAR mln) |
|
1.08 |
Net written premiums (SAR mln) |
|
2.16 |
Net incurred claims (SAR mln) |
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