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.

Source: Mubasher

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