Logo of United Cooperative Assurance Co. (UCA)
United Cooperative Assurance Co. (UCA) announced that the Commercial Court in Riyadh has accepted to register the application for the commencement of liquidation proceedings filed by one of the company’s creditors. 
The application has been registered with the court and will be considered in accordance with the relevant statutory procedures and regulations, it said in a statement to Tadawul.
UCA also affirmed that the acceptance of the filing of the application to commence the proceedings does not constitute a final judgment or decision to liquidate the company, nor does it imply the issuance of a ruling to initiate liquidation proceedings.
Rather, it represents the commencement of the judicial consideration of the application submitted by the creditor, in accordance with the provisions of the Bankruptcy Law, its Implementing Regulations, and the relevant statutory procedures.
The company further clarified that the application will be subject to established judicial and statutory stages and procedures including enabling relevant parties to exercise their statutory rights pending the competent court’s decision regarding the application, whether to commence liquidation proceedings or to take such other action as it deems appropriate under the law.
It stressed that it will continue to take the necessary regulatory and legal measures to protect its interests, shareholders, and stakeholders, and will disclose any material developments in this regard in accordance with relevant regulatory requirements.
UCA said on Sept. 10 that one of its creditors had filed an application with the Riyadh Commercial Court to initiate liquidation proceedings against the company. The opening of the proceedings remains subject to the competent court’s decision in accordance with the Bankruptcy Law and its Implementing Regulations, according to Argaam data.
The Capital Market Authority (CMA) decided to suspend trading in the company’s shares starting today, Sept. 13. The suspension is pending a decision by the CMA regarding the filing of a liquidation proceedings application, following the Commercial Court’s decision to accept or reject the opening of liquidation proceedings against the company.
The Insurance Authority earlier suspended the company from issuing or renewing insurance policies for all motor insurance products, including comprehensive motor insurance policies, effective Feb. 19, for failing to take the necessary due care to rectify its position, which affected the services provided to policyholders and beneficiaries.
The company’s accumulated losses reached SAR 459.57 million, equivalent to 115% of its capital, as of Q2 2026.
Logo of United Cooperative Assurance Co. (UCA)
United Cooperative Assurance Co. (UCA) announced that the Commercial Court in Riyadh has accepted to register the application for the commencement of liquidation proceedings filed by one of the company’s creditors.
The application has been registered with the court and will be considered in accordance with the relevant statutory procedures and regulations, it said in a statement to Tadawul.
UCA also affirmed that the acceptance of the filing of the application to commence the proceedings does not constitute a final judgment or decision to liquidate the company, nor does it imply the issuance of a ruling to initiate liquidation proceedings.
Rather, it represents the commencement of the judicial consideration of the application submitted by the creditor, in accordance with the provisions of the Bankruptcy Law, its Implementing Regulations, and the relevant statutory procedures.
The company further clarified that the application will be subject to established judicial and statutory stages and procedures including enabling relevant parties to exercise their statutory rights pending the competent court’s decision regarding the application, whether to commence liquidation proceedings or to take such other action as it deems appropriate under the law.
It stressed that it will continue to take the necessary regulatory and legal measures to protect its interests, shareholders, and stakeholders, and will disclose any material developments in this regard in accordance with relevant regulatory requirements.
UCA said on Sept. 10 that one of its creditors had filed an application with the Riyadh Commercial Court to initiate liquidation proceedings against the company. The opening of the proceedings remains subject to the competent court’s decision in accordance with the Bankruptcy Law and its Implementing Regulations, according to Argaam data.
The Capital Market Authority (CMA) decided to suspend trading in the company’s shares starting today, Sept. 13. The suspension is pending a decision by the CMA regarding the filing of a liquidation proceedings application, following the Commercial Court’s decision to accept or reject the opening of liquidation proceedings against the company.
The Insurance Authority earlier suspended the company from issuing or renewing insurance policies for all motor insurance products, including comprehensive motor insurance policies, effective Feb. 19, for failing to take the necessary due care to rectify its position, which affected the services provided to policyholders and beneficiaries.
The company’s accumulated losses reached SAR 459.57 million, equivalent to 115% of its capital, as of Q2 2026.
