Al Sagr Insurance expects to publish Q1 2022 financials before Sept. 19

Logo of Al Sagr Cooperative Insurance Co. 

Al Sagr Cooperative Insurance Co. expects to publish the financial results for the three-month period ended on March 31, 2022, before Sept. 19, 2022.

In a statement to Tadawul, the insurer said it was unable to publish the interim financial statements for Q1 2022 on time due to the failure to complete the regulatory, supervisory and internal procedures related to obtaining the approval of the Saudi Central Bank (SAMA) and the board of directors.

Once the necessary signatures from the board are completed, the financial statements will be approved to be published as soon as possible.

Trading on the company's share is currently suspended, and will continue until the announcement of the financial statements, it added.

The financial impact cannot be determined yet, and any impact will be disclosed in due course, the statement.

According to the data available with Argaam, Al Sagr Insurance had announced in May that it expects to publish the financial statements before Aug. 10. Later, it revised the date to Sept. 12.

The Saudi Exchange (Tadawul) decided to re-suspend the trading on Al Sagr Insurance shares, starting from June 23, 2022, until the financial statements are announced.