UAE - No plan to raise required insurance capital
Thursday, 10 12 2017, Category: Insurance and Reinsurance, Country: U.A.E
The UAE’s Insurance Authority (IA) said that it was not planning to raise the capital of the insurance companies, Al Khaleej newspaper reported on Wednesday, citing a top official as saying.
Insurance firms’ capital is currently fixed at AED 100 million.
The IA assesses the need for raising insurance companies’ capital in accordance with the interests of the market and the public sector, Ibrahim Obaid Al Zaabi, the IA’s director general, told Al Khaleej.
The IA investigates and discusses the efficiency of the insurance sector as well as imposing insurance on other products with a range