1443/04/03 Mon Nov 8, 2021 08:48:28
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Element List | Explanation |
Introduction | Allied Cooperative Insurance Group announces that its accumulated losses have reached 24.8% of the capital amounting to 141 million Saudi riyals, based on its unaudited financial results for the third quarter as on 30 September 2021 |
Date of Realization of the Loss | 2021-09-30 Corresponding to 1443-02-23 |
Amount of the Accumulated Losses | SR 34950 thousand |
Percentage of the Accumulated Losses out of the Capital (%) | 24.8 % |
Major Reasons Leading to the Losses | Increase in claims incurred and Policies acquisition costs |
Application of the Procedures and Instructions | Procedures and Instructions Applicable on Companies Listed in Saudi Capital Market Whose Accumulated Losses Reach 20% or more out of the Capital Thereof will be Applied |
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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ACIG - Allied Cooperative Insurance Group SJSC published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 07:07:08 UTC.