KSA - Wafa Ins. unable to disclose H1 2020 financials
Wednesday, 08 26 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Saudi Indian Company for Cooperative Insurance (Wafa Insurance) said it was unable to disclose its financial results for H1 2020 within the regulatory period.
The appointment of external auditors and the audit committee formation, as approved by shareholders on June 2, were the reasons behind the company’s delay in issuing its financials, the insurer said in a statement to Tadawul.
Accordingly, Wafa Insurance said it expects to disclose H1 2019 financials before Aug. 31, 2020, while financials for the nine months ending Sept. 30, 2019 are expected to be disclosed before Sept. 30, 2020. FY2019 financials are forecast to be published before Nov. 30, 2020.