Amana Cooperative submits capital hike request to SAMA

27/11/2017 Argaam

Amana Cooperative Insurance Co. (Amana Insurance) has submitted its application to increase capital to the Saudi Arabian Monetary Authority (SAMA) for approval, the insurer said in a statement to Tadawul.

 

Any relevant updates will be duly revealed, the statement added.

 

In September 2016, the insurer’s board recommended a rights issue of SAR 100 million to boost solvency margin and support future activities.

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