SAMA Lifts Ban on UCA from Issuing or Renewing Motor Insurance Policies

9/6/2016 12:00 AM

Reference is made to SAMA announcement dated 15/09/1437H (20/06/2016) on banning the United Cooperative Assurance Company (UCA) from accepting new subscribers to the motor insurance activity, issuing and renewing motor insurance policies effective from 16/9/1437H (21/6/2016). SAMA would like to announce that it has lifted ban on UCA from accepting new subscribers to the motor insurance activity, issuing and renewing insurance policies effective from Wednesday 06/12/1437H (07/09/2016) since the UCA has addressed SAMA's observations on motor-insurance-related claim settlements and customers' complaint processing.

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