Riyadh – Mubasher: Al Inma Tokio Marine Co on Thursday signed a contract with consulting firm PricewaterhouseCoopers (PWC) as a financial advisor to study the reasons behind the former’s weak internal control, according to a statement to the Saudi Stock Exchange (Tadawul).

PWC will work on suggesting and offering needed solutions to overcome the company’s internal control problems by applying some systems and regulations, Al Inma Tokio said.

On 7 June, the insurance company received a letter from the Saudi Arabian Monetary Authority (SAMA) requiring Al Inma Tokio to hire an approved advisor by the authority.

By the end of trading on Thursday, Al Inma Tokio’s stock inched down 0.32% to reach at SAR 24,840.