Riyadh – Mubasher: Sanad Cooperative Insurance suffered losses of SAR 1.96 million ($523,000) in October 2016.
The company’s accumulated losses amounted to SAR 6.3 million ($1.68 million) for the first ten months of 2016.
The accumulated losse reached SAR 172.24 million by the end of October, representing 86.12% of the SAR 200 million capital.
The company’s total written premiums reached SAR 32,000 in October 2016, so that the total in the ten-month period of 2016 reaches SAR 48,000.
The company recorded SAR 527,000 losses in September, so that its accumulated losses amounted to SAR 4.37 million for the first nine months of the year.
