United Cooperative Assurance Company announces receiving a letter from the Insurance Authority in regard to suspending the issuance or renewal of Motor Insurance Policies due to regulatory violations

The company expects this decision to have a negative impact on its financial results for the year 2026. However, the extent of this impact cannot be determined at this time, where any further developments on this matter will be announced in due course. The company is working to implement effective and practical corrective measures to comply with the regulatory requirements in coordination with the Insurance Authority.

The company also clarifies that the suspension applies to motor insurance products, while the rest of the insurance products remain available to its valued customers. The company affirms that this decision will not affect its ability to fulfill its obligations and does not, in any way, impact the interests of policyholders who have valid insurance policies issued before the suspension date.