United Cooperative Assurance Co (8190)

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News

30 September 10:51 PM Riyadh Commercial Court orders liquidation of United Cooperative Assurance

Riyadh — Mubasher: United Cooperative Assurance Company announced that the Ninth Commercial Circuit of the Riyadh Commercial Court issued a judgment on 30 September 2026 to initiate liquidation proceedings for the firm. The ruling, under case …

Company News

24 September 12:42 PM United Cooperative Assurance suspends insurance policy issuance

Riyadh – Mubasher: United Cooperative Assurance Company has received a notification from the Insurance Authority on 22 September, mandating the immediate suspension of issuing or renewing all insurance policies. The regulatory directive covers all …

Company News

14 September 08:03 AM Riyadh Commercial Court accepts liquidation filing against United Cooperative Assurance

Riyadh – Mubasher: United Cooperative Assurance Company announced that the Commercial Court in Riyadh has accepted a request to initiate liquidation proceedings filed by one of the company’s creditors. This development follows a previous …

Banking and Finance

14 September 07:34 AM CMA suspends trading of United Cooperative Assurance

Riyadh – Mubasher: The Capital Market Authority (CMA) announced the suspension of trading in the shares of United Cooperative Assurance Company on the Saudi Exchange (Tadawul) effective 13 September. The regulatory intervention follows the …

Banking and Finance

10 September 06:19 PM United Cooperative Assurance to file for financial reorganization

Riyadh – Mubasher: United Cooperative Assurance Company announced that its board of directors passed a resolution on 10 September 2026 to apply for the opening of a financial reorganization procedure with the competent commercial court. The …

Management Decisions

10 September 05:29 PM United Cooperative Assurance faces liquidation request from creditor

Riyadh – Mubasher: United Cooperative Assurance Company has submitted a formal request to the Riyadh Commercial Court to open liquidation proceedings against the company. The filing was made under the provisions of the Saudi Bankruptcy Law and its …

Company News

17 August 12:49 PM United Cooperative Assurance opens board nomination for 2027-2030 term

Riyadh – Mubasher: United Cooperative Assurance Company has opened the nomination process for its board of directors for the upcoming three-year term. The new session is scheduled to commence on 13 January 2027 and conclude on 12 January 2030. The …

Board of Directors

6 August 10:04 AM United Cooperative Assurance’s profits skyrocket 911% in Q2-26; accumulated losses reported

Riyadh – Mubasher: United Cooperative Assurance Company logged a net profit after Zakat of SAR 13.52 million for the second quarter (Q2) of 2026, higher by 910.85% year-on-year (YoY) than SAR 1.34 million. The company attributed the quarterly …

Banking and Finance

25 June 06:52 PM United Cooperative Assurance ratifies financial statements, appoints auditors

Riyadh – Mubasher: United Cooperative Assurance Company has announced the results of its Ordinary General Assembly Meeting, which took place on 24 June 2026 and saw shareholders deliberating on several key items. The investors approved the fiscal …

General Assembly

27 April 02:48 PM United Cooperative Assurance’s net losses deepen in 2025; accumulated losses near SAR 452m

Riyadh - Mubasher: United Cooperative Assurance Company announced 1,601.89% year-on-year (YoY) higher net losses after Zakat attributable to the owners at SAR 256.22 million in 2025, compared with SAR 15.05 million. The loss per share widened to …

Company News

22 June 2025 02:32 PM Arabia Insurance, United Cooperative Assurance ink MoU to explore potential merger

Riyadh - Mubasher: Arabia Insurance Cooperative Company and United Cooperative Assurance Company agreed to evaluate a potential merger between the two firms. Under the non-binding memorandum of understanding (MoU), the two companies will merge …

Mergers and Acquisitions

20 March 2024 02:39 PM United Cooperative Assurance turns to profitability in 2023

Riyadh – Mubasher: United Cooperative Assurance Company shifted to profitability in 2023, recording a net profit after Zakat attributable to shareholders of SAR 5.29 million, versus a net loss of SAR 55.48 million a year earlier. Insurance …

Banking and Finance

20 February 2024 11:50 AM United Cooperative appoints new Chairman, Vice Chairman

Riyadh – Mubasher: United Cooperative Assurance Company named Khalid Hussein Ali Reza as the Chairman of the board for three years. Khalid Ahmed Al Hamdan was announced as the Vice Chairman, according to a bourse disclosure. The two officials …

Management Decisions

27 December 2023 03:35 PM Saudi Enaya, United Cooperative’s shareholders give different votes for merger

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Saudi Enaya Cooperative Insurance Company rejected the merger offer submitted by United Cooperative Assurance Company, while the latter’s shareholders approved merging into Saudi Enaya, …

General Assembly

21 November 2023 03:04 PM CMA approves United Cooperative’s capital raise for merger with Saudi Enaya

Riyadh – Mubasher: The Capital Market Authority (CMA) recently approved United Cooperative Assurance Company’s (UCA) request to increase its capital by SAR 192.60 million to conclude the merger with Saudi Enaya Cooperative Insurance Company. …

Management Decisions

8 November 2023 07:13 PM United Cooperative’s net losses narrow to SAR 7m in 9M-23; accumulated losses near 49%

Riyadh – Mubasher: United Cooperative Assurance Company reported a net loss before Zakat of SAR 7.08 million in the first nine months (9M) of 2023, down by 85.27% from SAR 48.05 million in 9M-22. The loss per share was SAR 0.24 in …

Financial Results

11 April 2022 06:47 PM SAMA gives nod to United Cooperative’s capital hike

Riyadh – Mubasher: The Saudi Central Bank (SAMA) has granted its green light for the United Cooperative Assurance Company’s request to increase its capital from SAR 400 million to SAR 700 million through a rights issue. The bank’s approval is …

Corporate Actions

17 October 2021 00:28 PM United Cooperative’s board proposes capital hike through rights issue

Riyadh – Mubasher: The board of United Cooperative Assurance Company recommended a capital raise by offering a rights issue at a value of SAR 300 million. The proposed capital hike is expected to endorse the company’s business growth plan, …

Corporate Actions

13 September 2021 05:39 PM SAMA approves change in United Cooperative’s practice permit

Riyadh – Mubasher: The Saudi Central Bank (SAMA) gave the green light for United Cooperative Assurance Company to amend its activity practice permit of insurance and reinsurance cooperative. The new practice permit will be limited to the practice …

Management Decisions

12 September 2021 10:01 AM United Cooperative reduces accumulated losses to 28% of capital

Riyadh – Mubasher: United Cooperative Assurance Company will reduce its accumulated losses to SAR 113.6 million, representing 28.4% of the capital, according to a bourse filing on Sunday. The amount will be instead of SAR 145.54 million, which …

Corporate Actions

19 August 2021 03:00 PM United Cooperative’s shareholders nod to offset accumulated losses

Riyadh – Mubasher: The shareholders of United Cooperative Assurance Company gave the green light to use SAR 31.94 million from the statutory reserves to offset part of the accumulated losses. The company aims to reduce the accumulated losses as …

Corporate Actions

16 August 2021 01:07 PM United Cooperative incurs SAR 33.5m losses in H1-21

Riyadh – Mubasher: United Cooperative Assurance Company logged an increase of 644% in net losses before Zakat to SAR 33.52 million during the first half (H1) of 2021, compared to SAR 4.5 million in H1-20. The loss per share deepened to SAR 0.94 in …

Financial Results

11 July 2021 03:50 PM United Cooperative obtains SAMA’s nod to reduce accumulated losses

Riyadh – Mubasher: United Cooperative Assurance Company has received the Saudi Central Bank’s (SAMA) approval to offset part of its accumulated losses by SAR 31.94 million from the statutory reserve. This amount will be reduced from the total …

Management Decisions

8 July 2021 10:28 AM United Cooperative receives SAMA’s nod for licence renewal

Riyadh – Mubasher: United Cooperative Assurance Company obtained the Saudi Central Bank’s (SAMA) approval to renew its business licence for a three-year term. The company will be able to practice general and health insurance and reinsurance …

Central Banks

3 June 2021 04:44 PM United Cooperative to partially offset accumulated losses

Riyadh – Mubasher: United Cooperative Assurance Company will be using the entire statutory reserves of SAR 31.94 million to offset part of the accumulated losses, according to a bourse filing on Thursday. Following this step, the company’s …

Corporate Actions