UCA announces the receipt of SAMA letter

UCA announces the receipt of SAMA letter to allow the company to issue and renew the documents in compulsory vehicle insurance activity

Referring to the company’s announcement on 26/12 /1438H corresponding to 17/09/2017 regarding the letter of the Saudi Arabian Monetary Agency, which includes preventing the company from issuing or renewing any documents in the compulsory vehicle insurance activity, the United Cooperative Assurance Company announces the receipt on Thursday 24/04 /1439H corresponding to 11/01/2018 letter SAMA No. 391000047920 dated 24/04 /1439H corresponding to 11/01/2018 containing the decision of the Saudi Arabian Monetary Agency to allow the company to accept new subscribers in compulsory vehicle insurance activity and thus the issuance and renewal of vehicle insurance documents as of 24/04 /1439H corresponding to 11/01/2018.

The company expects that this will have a positive impact on the increase in sales of the company as of 24/04 /1439H corresponding to 11/01/2018.