Riyadh – Mubasher: Sanad Cooperative Insurance reported a 88.4% month-on-month decline in its net losses during December 2016, according to a bourse statement.
Net losses reached SAR 207,000 ($55,200) in December 2016, compared to SAR 1.799 million ($477,000) in November 2016, totalling SAR 8.32 million ($2.22 million) in 2016.
Operating losses reached SAR 168,000 in December 2016.
Accumulated losses stood at SAR 174.24 million by the end of December 2016, representing 87.12% of the SAR 200 million capital.
