Regulator considers allowing 100% foreign ownership of insurers

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International

Regulator considers allowing 100% foreign ownership of insurers

May 07, 2019 Reprints

Ebrahim Obaid Al Zaabi, director general of U.A.E.'s Insurance Authority, said that the regulator is considering increasing the foreign ownership limit in local insurers to 100% from the current 49%, Zawya reported citing sources. Mr. Al Zaabi said that the regulator will not increase the minimum capital requirement for insurers. Two government-owned insurers are likely to merge their operations this year, he added.

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Regulator considers allowing 100% foreign ownership of insurers

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