Regulator considers allowing 100% foreign ownership of insurers

Posted On: May. 7, 2019 6:37 AM CST

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.