The Saudi Arabia Insurance Authority has suspended United Cooperative Insurance Company from issuing or renewing policies across all insurance products, including retail products and extended warranty coverage. The measure expands earlier restrictions covering compulsory insurance and all motor insurance products. The suspension does not release the company from its obligations under existing policies or claims arising from them. The company must take all necessary measures to protect policyholders and beneficiaries from adverse effects.
2026-09-22Saudi Arabia Insurance Authority
Saudi Arabia Insurance Authority suspends United Cooperative Insurance Company from issuing or renewing all insurance products
The Saudi Arabia Insurance Authority has barred United Cooperative Insurance Company from issuing or renewing policies across all insurance products, expanding earlier restrictions on compulsory and motor coverage. The company remains responsible for existing policies and related claims and must protect policyholders and beneficiaries.