22 September 2026
Further to the Insurance Authority's decision dated 27 October 2025, suspending United Cooperative Assurance Company (UCA) from issuing or renewing compulsory insurance policies, including health insurance, motor insurance, and domestic worker contracts insurance, and its decision dated February 19, 2026, suspending the UCA company from issuing or renewing policies for all motor insurance products, including comprehensive motor insurance, the Insurance Authority (IA) today issued a decision suspending the company from issuing or renewing policies for all insurance products, including retail products and extended warranty insurance.
This decision reflects IA's commitment to maintaining the stability of the insurance sector, improving the efficiency of companies operating in the sector, strengthening their ability to meet their obligations, and protecting the rights of policyholders and beneficiaries, thereby enhancing confidence in the insurance market and supporting its sustainability.
The Authority emphasizes that the decisions taken against the company do not relieve it of its obligations regarding the existing insurance policies or any related claims. The IA also affirms that the company must take all necessary measures to ensure that the interests of policyholders and beneficiaries are not adversely affected.