The Saudi Arabia Insurance Authority has suspended United Cooperative Insurance Company from issuing or renewing policies for all vehicle insurance products, including comprehensive coverage, effective Feb. 19, 2026. The measure follows the company’s failure to exercise due diligence in rectifying its position, which affected services provided to policyholders and beneficiaries. The suspension does not release the company from obligations under existing policies or related claims. It will remain in effect until the company demonstrates that it has rectified its position and complies with applicable regulatory requirements and standards.
2026-02-19Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority suspends United Cooperative Insurance Company from issuing or renewing vehicle insurance policies
The Saudi Arabia Insurance Authority has suspended United Cooperative Insurance Company from issuing or renewing any vehicle insurance policies, including comprehensive coverage, effective Feb. 19, 2026. Existing policy and claims obligations remain in force, and the suspension will continue until the company rectifies its position and demonstrates regulatory compliance.