27 October 2025
The Authority has issued a decision to suspend Al-Muttahida Cooperative Insurance Company from issuing or renewing mandatory insurance policies, including (health, motor, and domestic labor contract insurance) as of 27/10/2025, due to the detection of a number of violations related to supervisory and regulatory instructions. This measure is taken in implementation of Article (19) of the Cooperative Insurance Companies Control Law issued by Royal Decree No. (M/32) dated 02/06/1424 AH, and its amendments. It is noted that the suspension decision does not exempt the company from its obligations concerning existing insurance policies and any claims that may arise from them, and from taking all necessary procedures to ensure that the interests of the insured are not affected.
The Authority points out that this measure comes as part of its keenness to contribute to the stability of the insurance sector, its organization, supervision, and oversight, as well as to protect the rights of the insured, beneficiaries, and stakeholders.