Riyadh – Mubasher: United Cooperative Assurance Company will reduce its accumulated losses to SAR 113.6 million, representing 28.4% of the capital, according to a bourse filing on Sunday.
The amount will be instead of SAR 145.54 million, which accounted for 36.39% of the capital.
The decline in accumulated losses was implemented by using SAR 31.94 million of the statutory reserve, as approved by the shareholders in August.
