Sagr Insurance receives SAMA’s approval on capital decrease to ‎SR140 mln

The Company announces it has received on 24/02/1444 corresponding to 20/09/2022 the Saudi Central Bank letter No.44015739 on 24/02/1444 containing the approval of the Saudi Central Bank to reduce the Company’s Capital by 260 million SAR, so that the company’s capital after the reduction would be 140 million SAR.

The company will continue to meet all the requirements of the official authorities, and the company will announce any future developments in this regard, if available.

With reference to the announcement of Alsagr Cooperative Insurance Company on Monday 09/02/1444 corresponding to 05/09/2022 regarding the announcement of the Board of Directors’ recommendation to reduce the company’s capital.