UCA says motor policy suspension will weigh on 2026 results

UCA says other insurance products remain available

United Cooperative Assurance Co. (UCA) said the Insurance Authority’s decision to suspend the company from issuing or renewing motor insurance policies, effective Feb. 19, 2026, will likely have a negative impact on the company’s financials for the year, according to a statement to Tadawul.

UCA, however, cannot ascertain the negative impact at present, and it is implementing corrective measures to comply with regulatory requirements, the statement added.

The company highlighted that the suspension applies only to motor insurance products, and other insurance products remain available to customers.

The decision will not affect UCA’s ability to meet its obligations and does not affect the interests of prior valid policyholders.

Any further developments will be announced in due course.

According to data available on Argaam, the Insurance Authority suspended UCA from issuing or renewing policies for all motor products — including comprehensive motor insurance policies — effective Feb. 19, 2026.

The suspension follows the company’s failure to exercise due diligence in rectifying its situation, which affected services provided to policyholders and beneficiaries.