Salama announces decrease in its accumulated losses to 15.90% of capital

Salama Cooperative Insurance Company announced on Thursday the decrease of its accumulated losses to 15.90% of the capital, explained that the accumulated losses currently amount to (31,791) thousand Saudi riyals, which represent 15.90% of the capital.

The company said today on Tadawul that the reason for the decrease in accumulated losses is mainly due to the increase in the company’s capital from SAR 100,000,000 to SAR 200,000,000.

The company, represented by the Board of Directors and Executive Management, continues to work on improving operational efficiency and optimizing costs to increase its profitability.