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 decision, which was made by circulation, is intended to safeguard the rights of shareholders and creditors while supporting the long-term continuity of the company’s operations.
The board has authorized the chairman, the acting chief executive officer, and the executive management team to initiate all necessary legal procedures required to implement the resolution.
This process will be conducted in accordance with the executive regulations and requirements of the relevant regulatory authorities.
The company stated that the move is a proactive measure to address its current financial position through formal legal channels.
Further developments regarding the court application and the reorganization process will be disclosed as they occur.
United Cooperative Assurance submitted a formal request to the Riyadh Commercial Court to open liquidation proceedings against the company.
