Company News

UCA Company announces the receipt of the CCHI formal letter of approval of its CCHI health insurance requalification


United Cooperative Assurance Company announces the receipt on Thursday 19-05-1438H corresponding to 16-02-2017G, a formal approval letter from the Secretary General of the Council of Cooperative Health Insurance (CCHI) reference number 3531/635 of its CCHI health insurance requalification for 3 years. The CCHI requalification is effective from 19/05/1438H corresponding to 16/02/2017G.


UCA Company announces nominations are open to the membership of the Board of Directors


UCA announces that nominations are open to the membership of the Board of Directors for the next session, which begins from the date of 26-06-2017 AD for three years.

Applicants are required to run for membership of the board to apply for candidacy for the management of the company and attention to the Nomination and Remuneration Committee and send to the following address: PO Box 5019 Jeddah 21422 Kingdom of Saudi Arabia, Prince Saud al-Faisal Khalidiya neighborhood street or fax 012 6068622 or email [email protected], starting on Tuesday, 10/5/1438 H corresponding to 02/07/2017 AD and until the end of business on Monday, 5/23 / 1438 H corresponding to 02/20/2017 AD.

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UCA receives Saudi Arabian Monetary Agency letter that allow UCA to issue and renew vehicle insurance documents


United Cooperative Insurance Company announces reception of the Saudi Arabian Monetary Agency letter to allow the company to issue and renew vehicle insurance documents.

United Company for Cooperative Insurance announces receipt of Tuesday 05-12-1437h corresponding 06-09-2016m speech by the Saudi Arabian Monetary Agency No. 371 000 125 485 of the corresponding 05-12-1437h 06-09-2016m, containing the decision of the Saudi Arabian Monetary Agency to allow the company to accept subscribers in the new vehicle insurance and therefore the issuance and renewal of vehicles insurance documents from Wednesday 06-12-1437H corresponding 07-09-2016.

The company expects that this will have a positive impact on the company's sales rise starting from the date Wednesday 06-12-1437H corresponding 07-09-2016.

The financial impact of the suspension period beginning from the date of 16 - 09-1437 AH corresponding to 21-06 - 2016 and up to the date of 05-12-1437H corresponding to 09/06/2016 will be explained later by announcing the next financial results for the period ended September 30, 2016.


Results of General Assembly Meeting on Wednesday 27/4/2016


United Cooperative Assurance Company announces the results of General Assembly Meeting which took place in Qasr El Sharq Hotel, Q2 Hall, Jeddah Corniche Road, promptly at 16:00 on 20/07/1437 corresponding to 27/04/2016 after quorum.

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The addition of a new item on the agenda of the Ordinary General Assembly agenda


A reference to the UCA statement dated 22/06/1437 H corresponding to 31/03/2016 AD regarding the invitation to attend the General Assembly Meeting to be held by the will of God in Qasr El Sharq Hotel, Q2 Hall, Jeddah Corniche Road at four o'clock in the afternoon on Wednesday 20 / 07/1437 H corresponding to 27/04/2016 AD, to discuss the agenda, the company would like to clarify to its shareholders by adding item vote on the agenda of the Assembly and in the following manner:

Voting on the selection of Chartered Auditors for the fiscal year 2016 based on the recommendation submitted by the Audit Committee and fix their remuneration.


Results of General Assembly Meeting on Wednesday 6/5/2015


United Cooperative Assurance Company announces the results of General Assembly Meeting which took place in Qasr El Sharq Hotel, Q2 Hall, Jeddah Corniche Road, promptly at 16:00 on 17/07/1436 corresponding to 06/05/2015 after quorum.

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The results of the two subscription periods and the details for selling the unsubscribed shares


United Cooperative Assurance Company announces that during the First Subscription Period, which started on Tuesday 14/05/1436H corresponding to 24/02/2015G and ended at the end of the day on Thursday 14/05/1436H corresponding to 05/03/2015G, the number of subscribed shares amounted to 13,412,730 shares of a total value of SAR 134,127,300 representing 63.87% of the New Shares.

The Company also announces that during the Second Subscription Period, which started on Sunday 17/05/1436H corresponding to 08/03/2015G and ended at the end of the day on Tuesday 19/05/1436H corresponding to 10/03/2015, the number of subscribed shares amounted to 5,368,529 shares of a total value of SAR 53,685,290 representing 25.56% of the New Shares. Accordingly, the total number of subscribed shares amounted to 18,781,259 New Shares at the value SAR 187,812,590 with a coverage percentage of 89.43%.

The Details for Selling the shares fractions and the Unsubscribed Shares:
The Company announces that the unsubscribed shares (Rump Shares) shall be offered to Institutional Investors who will be invited by the Lead Manager Investment Capital after consultation with the Company, provided that those Institutional Investors submit offers for purchasing the Rump Shares. Receipt of those shares shall start at 10:00 AM on Sunday 24/05/1436H corresponding to 15/03/2015G and shall continue until 10:00 AM on the second day, on Monday 25/05/1436H corresponding to 16/03/2015G. The Rump Shares shall be allocated to Institutional Investors with the highest offer, then to the next one (provided that it is not below the offer price).The allocation of those shares to the Institutional Investors submitting the same offer shall be pro rata.

Fractional shares shall be added to the Rump Shares and treated in the same manner.


Results of Extraordinary General Assembly Meeting


United Cooperative Assurance Company announces the results of Extraordinary General Assembly Meeting which took place in Qasr El Sharq Hotel, Q2 Hall, Jeddah Corniche Road, promptly at 16:00 on 29/04/1436 corresponding to 18/02/2015, which included the approval of the company's capital increase.

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