Publisher: Maaal International Media Company
License: 465734
Tuesday, 22 April 2025
SAICO Approves Utilising Statutory Reserve to Offset Accumulated Losses
The Board of Directors of the Saudi Arabian Cooperative Insurance Co. (SAICO) announced on Tuesday the approval of the Extraordinary General Assembly Meeting (Second Meeting) to use part of the Company’s statutory reserve amounting to 43,693 thousand riyals, to offset its accumulated losses amounting to 39,090 thousand riyals as in the preliminary financial statements for the period ending Sep. 30, 2024.
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