Riyadh-Mubasher: Sanad Cooperative Insurance recorded accumulated losses of SAR 169 million until the end of January 2016, representing 84.37% of capital, according to the company’s bourse filing posted Tuesday.

The insurer posted SAR 749,000 in net losses before zakah for January.

Shareholders' equity totalled SAR 27.8 million, and the loss per share after zakah and tax hit SAR 0.04.

The companies whose accumulated losses reach or exceed 50% of capital are requested to release their financials on a monthly basis, according to market regulations.