Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company submitted an application file to the Capital Market Authority (CMA) on 17 April 2024 to increase its capital to SAR 380 million.

The insurance firm plans to raise its capital by offering rights issues shares amounting to SAR 150 million, according to a bourse disclosure.

In 2023, the company shifted to net profits after Zakat attributable to shareholders valued at SAR 20.22 million, against net losses valued at SAR 6.35 million in 2022.

Insurance revenues jumped by 10.55% to SAR 250.88 million in 2023 from SAR 226.93 million a year earlier.