Saudi: Alinma Tokio Marine’s accumulated losses hit 27% of capital

The accumulated losses of AlinmaTokio Marine Company decreased to SAR 81.33 million as of 31 March 2023.

The registered losses account for 27.11% of the SAR 300 million capital, according to a bourse disclosure.

In the first quarter (Q1) of 2023, Alinma Tokio Marine posted a net income worth SAR 1.48 million, compared to SAR 7.21 million in Q1-22.

Revenues edged up to SAR 78.16 million in Q1-23 from SAR 78.14 million during the same period a year earlier.

The basic and diluted earnings per share (EPS) hit SAR 0.05 in the first three months (3M) of 2023, down from SAR 0.24 in 3M-22.

Last year, the Saudi firm secured a group credit insurance deal with Alinma Bank at a value of SAR 27.87 million.

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