Riyadh – Mubasher: United Cooperative Assurance Company will be using the entire statutory reserves of SAR 31.94 million to offset part of the accumulated losses, according to a bourse filing on Thursday.

Following this step, the company’s accumulated losses will stand at SAR 105.07 million which represents 26% of the capital.

On 31 March 2021, United Cooperative’s accumulated losses reached SAR 137.01 million which accounted for 34% of the capital.