The Insurance Authority (IA) in Saudi Arabia has issued a decision to suspend United Cooperative Assurance (UCA) from issuing or renewing insurance policies for all motor insurance products, including comprehensive motor insurance policies, effective from 19 February 2026.
The decision was made due to the company’s failure to exercise the necessary diligence in correcting its operations, which has adversely affected the services provided to policyholders and beneficiaries, according to a public statement posted on the IA’s website.
The IA said that the suspension decision does not release the company from its obligations related to existing insurance policies and any claims arising from them, and that the insurer must take all necessary measures to ensure that policyholders’ and beneficiaries’ interests are not adversely affected.
The Authority indicated that this measure comes as part of its efforts to contribute to the stability of the insurance sector and to protect the rights of policyholders, beneficiaries, and stakeholders.
The IA emphasised that the suspension will not be lifted until the company proves that it has corrected its situation and complied with the applicable regulatory standards and requirements.