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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.
Source:
Mubasher
