How to Liquidate an Insurance Company in 12 Months

A forensic, public-records-only account of how a listed Saudi insurer, United Cooperative Assurance Company, went from its first disclosed solvency breach to a court-ordered liquidation.

The book works from 93 documents, every one of them filed publicly: exchange announcements, audited and reviewed financial statements, and the laws, regulations and accounting standards those filings were prepared under. Nothing in it comes from a private source.

Each chapter in the printed edition carries a QR code. Scanning it opens that chapter's sources page on this site, with a live link to every document cited in it. Short links in the running text — insurance-autopsy.com/t/98083 and the like — resolve the same way.

Structure

Prologue: The Extent of the Impact

Part One: The Machine

1. 1 The First Symptoms
2. 2 The Fronting Desk
3. 3 The Art of Losing Money at Scale
4. 4 The Safety Net Comes Down

Part Two: The Silence

1. 5 Statutory Reserves Are for Cowards
2. 6 Governance Theater
3. 7 The Same Sentence, Seventeen Times
4. 8 What the Standard Revealed
5. 9 The Ladder

Part Three: The Death Spiral (Q1–Q3 2025)

1. 10 The Threshold Quarters
2. 11 The Stillborn

Part Four: The Afterlife (Nov 2025 – Sep 2026)

1. 12 The Company That Kept Filing
2. 13 One Client, One Quarter, Ninety-Nine Percent
3. 14 The Meeting That Could Not Be Held
4. 15 How to Read a Corpse
5. 16 What Was Left to Sell

Epilogue: The File That Would Not Close

About the author

TODO: author copy — About the author, coming soon. Written by Sultan Sindi.

Get the book

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