United Cooperative Assurance Company announces receiving a letter from the Insurance Authority in regard to suspending the issuance or renewal of Compulsory Insurance Policies that include (Domestic Workers ,Medical, Motor.) due to regulatory violations. | premargin

United Cooperative Assurance Company announces receiving a letter from the Insurance Authority in regard to suspending the issuance or renewal of Compulsory Insurance Policies that include (Domestic Workers ,Medical, Motor.) due to regulatory violations.

TadawulOctober 28, 2025View on exchange

Element List	Explanation
Announcement Detail	The United Cooperative Assurance Company announces receiving a letter from the Insurance Authority on Monday 05 Jumada Al-Awwal 1447H corresponding to 27 October 2025 regarding the suspension of issuing or renewing compulsory insurance policies that include (Domestic Workers ,Medical, Motor) with effect from 27 October 2025 due to violations of supervisory and regulatory instructions. The company expects this decision to have a negative impact on its financial results for the year 2025. 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.

Element List

Explanation

Announcement Detail

The United Cooperative Assurance Company announces receiving a letter from the Insurance Authority on Monday 05 Jumada Al-Awwal 1447H corresponding to 27 October 2025 regarding the suspension of issuing or renewing compulsory insurance policies that include (Domestic Workers ,Medical, Motor) with effect from 27 October 2025 due to violations of supervisory and regulatory instructions.

The company expects this decision to have a negative impact on its financial results for the year 2025. 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.