Saudi Arabia insurance council suspends TUCI from national network

Saudi Arabia’s Council of Cooperative Health Insurance will no longer issue individual health insurance certificates to the Trade Union Cooperative Insurance Co. (TUCI) on the national network’s system.

TUCI’s suspension has been effective since Tuesday and will last until the company can "correct its status," the council said.

This suspension will impact the company's sales negatively during the first quarter of 2015, TUCI said in a statement to Tadawul, Saudi’s bourse.

The company added that the suspension period is indefinite, but it will work to resolve the issue "as soon as possible."