Saudi Insurer Enaya Restructures Capital in Bold Move to Bolster Stability and Growth
In a decisive step reflecting the strength and resilience of the Saudi financial sector, Enaya Cooperative Insurance Company has announced a major restructuring of its capital. This strategic move, approved by the Board of Directors, underscores the company’s commitment to long-term stability and alignment with the Kingdom’s ambitious Vision 2030 economic transformation.
Why Did Enaya Reduce Its Capital?
The capital reduction, amounting to 32.716% of the company’s total value, is designed to offset accumulated losses and strengthen the company’s financial foundation. By reducing the nominal value of each share from SAR 10 to SAR 6.73, Enaya is restructuring its capital base to a