February 23, 2024

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UAE Central Financial institution cancels registrations of two insurance coverage brokers

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Abu Dhabi: The Central Financial institution of the UAE (CBUAE) has cancelled the registrations of Seagull Insurance coverage Companies Co. and Al Shorafa Insurance coverage Companies from the insurance coverage dealer register, in accordance with the relevant insurance coverage brokers’ regulation, the apex financial institution mentioned on Wednesday.

“The CBUAE, via its supervisory and regulatory mandates, works to make sure that all insurance coverage firms and professions associated to insurance coverage firms, adjust to the UAE legal guidelines and laws adopted by the CBUAE, to safeguard the transparency and integrity of the insurance coverage trade and the UAE monetary system,” it mentioned in a press release.

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