UAE – Mubasher: The UAE's Insurance Authority is considering increasing foreign ownership limit in insurance companies to 100% instead of 49%, Ebrahim Obaid Al Zaabi, director general of the Insurance Authority, told Al Bayan newspaper.
Al Zaabi added that foreign companies’ branches in the GCC nation are fully owned by non-emiratis.
He pointed out that the authority has no intentions to raise the capital of the UAE’s insurance firms.
Two state-run insurance companies are expected to be merged this year, Al Zaabi noted, affirming that they are still in talks.
