MedGulf cuts accumulated losses to 34% of capital

02/04/2019 Argaam

 

The Mediterranean and Gulf Insurance and Reinsurance Co. (MedGulf) reported SAR 273.5 million in accumulated losses, accounting for 34.19 percent of its capital as of Dec. 31, 2018, the company said in a statement to Tadawul on Tuesday. 

 

These losses were reduced, as the company hiked its capital in October through a SAR 400 million rights issue.

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