Riyadh – Mubasher: the ordinary general meeting (OGM) of Solidarity Saudi Takaful approved Sunday the board’s report and financial statements for the fiscal year 2015, said the supervisory interim committee managing Solidarity on Monday in a bourse filing.  

The ordinary meeting also discharged board members from liability for the same fiscal year, the bourse filing revealed.

However, the meeting did not endorse the board’s actions during 26 May – 30 June 2016, electing a new board for the third round that will last until 3 September 2019.

By the end of May 2016, the company logged SAR 316.2 million accumulated losses, which represent 56.98% of capital.