UAE sets minimum capital for insurance firms

03 January 2010

The UAE has set the minimum subscribed or paid up capital of Dhs100m for establishing insurance firms and Dhs250m for re-insurance firms, Wam has reported. The new government resolution applies to all national and foreign insurance companies licensed to operate in the UAE said Fatima Ishaq Al Awadhi, Deputy Director of the Insurance Authority. The insurance companies operating from free zones are exempt from the rules of the resolution, she noted

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