Regulatory fines could drive consolidation among insurers

Posted On: May. 1, 2019 5:48 AM CST

Industry experts said that small insurers may look to consolidate with other players after the United Arab Emirates enacted new regulations that include possible fines for carriers that lack sufficient capital and expertise, International Adviser reported. U.A.E.'s insurance regulator could fine insurers and insurance brokers for violating 204 rules such as operating without a license and failing to submit financial reports from the middle of May.