UAE looking to lift foreign ownership cap for insurers

Pedro Gonçalves
clock • 1 min read

The UAE's Insurance Authority is considering increasing foreign ownership limit in insurance companies to 100% from the current 49%, local media reports. Ebrahim Obaid Al Zaabi, director general of the Insurance Authority, told Al Bayan newspaper there is a proposal to allow full ownership of insurers in the Middle Eastern market. Al Zaabi added that foreign companies' branches in the GCC nation are fully owned by non-emiratis. He highlighted that the regulator has no intentions to raise the capital of the UAE's insurance firms. The UAE's move comes alongside many international...

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