Riyadh-Mubasher: Sanad Cooperative Insurance recorded accumulated losses of SAR 165.6 million until the end of November, representing 82.83% of capital, according to the company’s bourse filing posted Sunday.
The insurer posted SAR 1.6 million in net earnings before zakah for November.
Sanad recorded SAR 2.5 million net earnings before zakah for the 11-month period ended 30 November.
Shareholders' equity totalled SAR 33.6 million.
The companies whose accumulated losses reach or exceed 50% of capital are requested to release their financials on a monthly basis, according to market regulations.
