SAICO Announces an Amendment to the Previous Announcement

22/01/2014 23:48 AST

Further to the announcement published on Tadawul's website on 21-01-2014 related to Saudi Arabian Cooperative Insurance Company (SAICO) announces an amendment to the previous announcement relating to the interim financial results for the period ending on 31-12-2013 (Twelve Months). Saudi Arabian Cooperative Insurance Company announces addendum as :While the correction is that the reason for the losses during the twelve months compared to a profit for the same period last year due to an increase in net incurred claims and an increase in technical reserve by SR 16.6 Million in accordance with SAMA Implementation Regulations for Insurance Companies also an increase in general and administrative expenses.


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