Saudi Enaya’s accumulated losses reach 61.1% of capital

01/03/2022 Argaam

Logo of Saudi Enaya Cooperative Insurance

Saudi Enaya Cooperative Insurance Co.’s accumulated losses reached 61.1% of capital, or SAR 91.7 million, as on Feb. 27, 2022, according to a bourse filing.

 

These losses were driven by higher net claims and an increase in the technical reserves.

 

The company is subject to the regulations applicable to Tadawul-listed companies, whose accumulated losses reach more than 50% of capital. 

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