Amana Insurance’s accumulated losses stand at 20.47% of capital

Amana Cooperative Insurance Co. posted SAR 28.66 million in accumulated losses, accounting for 20.47 percent of its capital amounting to SAR 140 million as of Apr. 16, 2018, the company said in a statement to Tadawul on Monday. 

These losses were mainly attributed to a decline in net earned premiums.

The Saudi company will be subject to the market regulator’s rules governing listed companies with accumulated losses of at least 20 percent of capital, as of Jan. 24, 2016.