Reference is made to SAMA's announcement on its website dated 04/12/1436H (17/09/2015), regarding its approval to the request received from Gulf Union Cooperative Insurance Company to increase its capital, by SA 220 million, after the fulfilment of the other official bodies' requirements; and to SAMA's letter no. (371000093386), sent to the company on 23/08/1437H (31/05/2016), indicating that the company shall submit its capital increase request to CMA no later than 27/11/1437H (31/08/2016) and in case of noncompliance, SAMA will withdraw its approval and take the necessary legal actions against the company to protect policyholders. Therefore, SAMA has decided to withdraw its approval as the company failed to submit its capital increase request to CMA within the specified period.