Increasing the capital of “Ma” insurance company from the accumulated profit

According to the financial monetary news quoting the public relations of “Ma” insurance, according to the decision of the Cabinet in May regarding the increase of the minimum capital of insurance companies, the board of directors of “Ma” insurance company increased the capital from 4000 billion Rials to 5000 billion Rials Proposed accumulated profit from the place.

According to this report, this capital increase will increase if approved by the legal inspector and the stock exchange organization in order to comply with the quorum required for the reinsurance acceptance license of insurance companies mentioned in Resolution 19757 / T 58252 dated 02/26/1400 of the esteemed Council of Ministers. The capacity to maintain and reform the financial structure of the company will be done from the accumulated profit.