MetLife AIG ANB narrows accumulated losses to 12% of capital

15/05/2018 Argaam

 

MetLife AIG ANB Cooperative Insurance Co. has cut its accumulated losses to SAR 21.27 million or 11.82 percent of capital, the insurer said in a statement to Tadawul on Tuesday.

 

The decrease is as a result of the reduction of the company's capital from SAR 350 million to SAR 180 million to offset SAR 170 million loss in line with the approval of the extraordinary general assembly convened on April 18, the statement added.

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