19 February 2026
The Insurance Authority Announces the Suspension of United Cooperative Insurance Company from Issuing or Renewing Vehicle Insurance Policies.
The Insurance Authority has issued a decision to suspend United Cooperative Insurance Company from issuing or renewing insurance policies for all vehicle insurance products — including comprehensive vehicle insurance policies — effective 19\02\2026, due to the company's failure to exercise due diligence in rectifying its position, which has affected the services provided to policyholders and beneficiaries.
This action is taken pursuant to Article (19) of the Cooperative Insurance Companies Control Law, issued by Royal Decree No. (M/32) dated 02/06/1424H, and its amendments.
The Authority noted that the suspension decision does not relieve the company of its obligations related to existing insurance policies and any claims arising therefrom. The company remains responsible for taking all necessary measures to ensure that the interests of policyholders and beneficiaries are not adversely affected.
The Authority further indicated that this measure reflects its commitment to contributing to the stability and proper regulation of the insurance sector, strengthening supervision and oversight, and protecting the rights of policyholders, beneficiaries, and stakeholders. The Authority also emphasized that the suspension will remain in effect until the company demonstrates that it has rectified its situation and complied with the applicable regulatory requirements and standards.
The Authority urges all parties with existing rights against the company to contact the company directly. In the event of non-response, complaints may be submitted to the Insurance Authority through the Customer Protection portal via the following link: care.ia.gov.sa, or by calling the toll-free number 8001240551.