Al Sagr Cooperative Insurance Gets Regulatory Nod to Use Statutory Reserve to Cut Losses

10:36 AM EDT, 07/15/2026 (MT Newswires) -- Al Sagr Cooperative Insurance (SASE:8180) received approval from Saudi Arabia's Insurance Authority to tap into its statutory reserve to offset part of its accumulated losses. The Saudi Arabia-listed insurer plans to use its 8.9 million-Saudi riyal statutory reserve to reduce its 40.5 million-riyal accumulated losses, which represent 13.5% of its capital, according to a Wednesday release. The plan will be presented during the company's general assembly meeting for final approval.