Saudi Arabia's Insurance Authority has barred ACIG from issuing new comprehensive motor insurance policies with effect from Sept. 24, 2026, after the insurer breached supervisory and regulatory instructions. The restriction does not apply to policy renewals. The measure was imposed under Article 19 of the Cooperative Insurance Companies Control Law. ACIG remains responsible for obligations under existing policies and any related claims and must take the necessary measures to protect policyholders and beneficiaries.
2026-09-24Saudi Arabia Insurance Authority
Saudi Arabia's Insurance Authority bars ACIG from issuing new comprehensive motor policies, renewals unaffected
Saudi Arabia's Insurance Authority has barred ACIG from issuing new comprehensive motor insurance policies from Sept. 24, 2026, citing breaches of supervisory and regulatory instructions. Renewals are unaffected, and ACIG remains responsible for existing policies and related claims.