The Capital Market Authority announces the issuance of a CMA Board resolution to impose a penalty of SR 10.000 (Ten Thousand Saudi Riyals) on Saudi Arabian Cooperative Insurance Company (SAICO) due to its violation of clause (A) of Article (40) of the Listing Rules and clause (8) of the  Instructions for companies’ Announcements regarding their financial results from the Instructions for the Announcements of Listed Companies in the Saudi Stock Exchange. The company did not mention in its preliminary financial results announcement for the period ending on 31/12/2013  all the reasons for its losses in the fourth quarter of 2013 compared to the same period of last year.