Riyadh - Mubasher: Saudi Enaya Cooperative Insurance Company recorded in July a net loss of SAR 1.15 million, thus increasing total losses in 2016 to SAR 16.2 million, according to a bourse filing.
Accumulated losses have now reached SAR 218.26 million, representing 54.56% of the company’s capital of SAR 400 million, the company said on Wednesday.
Enaya announced that it received on 19 June the Saudi Arabian Monetary Agency’s approval to lower the company’s capital from SAR 400 million to SAR 200 million, as a part of the company’s restructuring process in accordance to new market regulations.
