United Cooperative Assurance Co. (UCA) has received regulatory approval to issue auto insurance policies to new subscribers, as well as renew existing ones, starting from September 7.
The move comes after the company managed to fulfill regulatory requirements for vehicle claim settlements and settle customer complaints, the Saudi Arabia Monetary Agency (SAMA) said in a statement.
In June, SAMA had suspended UCA from renewing and issuing new auto policies.
The insurer at the time said sales would drop by 0.17 percent during the suspension period.
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