Riyadh-Mubasher: United Cooperative Assurance (UCA) reported accumulated losses of SAR 151 million, representing 30.8% of capital.
The company recently increased capital to SAR 490 million through offering rights issue shares, which caused accumulated losses to fall below 50% of capital.
The insurer said on 24 February that its accumulated losses had reached SAR 160.5 million, or 57.3% of capital.
