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 company confirmed that the board will consist of seven members.

The nomination window opened on 16 August 2026, and will remain active until 15 September 2026. Interested candidates must submit their applications via email or to the company’s headquarters in Jeddah.

According to the disclosure, candidates must adhere to regulatory requirements, including a limit of five memberships in Saudi listed companies.

The company’s internal policies specify that independent members must maintain at least three seats on the board. Furthermore, candidates are required to have at least five years of experience in relevant sectors.

The final selection of board members will take place during a general assembly meeting, the date of which will be announced following necessary approvals from the Insurance Authority and other competent bodies.

Candidates must also comply with independence standards, including a 5% ownership threshold and specific limits on additional compensation exceeding SAR 200,000.

As of 30 June 2026, the company’s accumulated losses hit SAR 137.73 million, representing 47.33% of its capital.