IA said the decision aims to support the stability of the insurance sector
The Insurance Authority (IA) issued, on Sept. 22, a decision suspending United Cooperative Assurance Co. (UCA) from issuing or renewing insurance policies for all insurance products, including products offered to individuals and the extended warranty product. 
According to the authority’s statement, the decision aims to support the stability of the insurance sector, improve the efficiency of companies operating in the sector, strengthen their ability to meet their obligations, and protect the rights of policyholders and beneficiaries, thereby enhancing confidence in the insurance market and supporting its sustainability.
The IA stressed that the decisions taken against the company do not exempt it from its obligations related to active insurance policies and any claims arising from them, and that it will take all necessary measures to ensure that policyholders’ and beneficiaries’ interests are not affected.
The authority’s decision follows its Oct. 27, 2025 decision to suspend UCA from issuing or renewing compulsory insurance policies, including health, motor, and domestic worker contract insurance. It also follows its Feb. 19, 2026 decision to suspend the company from issuing or renewing policies for all motor insurance products, including comprehensive motor insurance.
IA said the decision aims to support the stability of the insurance sector
The Insurance Authority (IA) issued, on Sept. 22, a decision suspending United Cooperative Assurance Co. (UCA) from issuing or renewing insurance policies for all insurance products, including products offered to individuals and the extended warranty product.
According to the authority’s statement, the decision aims to support the stability of the insurance sector, improve the efficiency of companies operating in the sector, strengthen their ability to meet their obligations, and protect the rights of policyholders and beneficiaries, thereby enhancing confidence in the insurance market and supporting its sustainability.
The IA stressed that the decisions taken against the company do not exempt it from its obligations related to active insurance policies and any claims arising from them, and that it will take all necessary measures to ensure that policyholders’ and beneficiaries’ interests are not affected.
The authority’s decision follows its Oct. 27, 2025 decision to suspend UCA from issuing or renewing compulsory insurance policies, including health, motor, and domestic worker contract insurance. It also follows its Feb. 19, 2026 decision to suspend the company from issuing or renewing policies for all motor insurance products, including comprehensive motor insurance.
