“Ettakai Amin” increases capital

According to the news of monetary and financial news, the significant increase in the Riyal value of assets at the national level and consequently the value of insured assets, which has resulted from the significant growth of inflation and exchange rate in recent years, maintaining and increasing capital and increasing the level The wealth of insurance companies, especially reinsurance companies, is essential.

The need to increase the limited reinsurance capacity of reinsurance companies in the country, the need to reform the financial structure, the need of the insurance market to increase the reinsurance capacity and increase the permitted maintenance capacity are also reasons that justify the increase in the capital of Amin Reinsurance Company.

Therefore, Amin Reinsurance Company intends to vote for an increase of 4400 billion rials in the upcoming assembly, with an increase of 55% compared to the current capital, so that if approved, the company’s capital will reach 12400 billion rials.

Of this amount of capital increase, 3200 billion rials will be from receivables and cash receipts, 550 billion rials will be from accumulated profit and the rest will be from capital reserves.