Walaa Insurance to increase its capital

The Capital Market Authority (CMA) has authorized Walaa Cooperative Insurance to increase its capital from 440 million SAR (117 million USD) to 528 million SAR (140 million USD). This increase shall be made by transferring 88 millions SAR (23 millions USD) from the retained earnings.

In late 2018, the company recorded a turnover of 1 105 million SAR (294 million USD) against 1 102 million SAR (293 million USD) a year before. The net profit of 2018 amounted to114 million SAR (30 million USD) compared to 148 million SAR (39 million USD) in 2017.

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