Licences of 12 UAE insurance brokers cancelled

The UAE Insurance Authority has cancelled licences of 12 brokers and written off registration of number of insurance brokers, the regulatory body said.

“The Insurance Authority (IA) of the UAE announces that it has decided to cancel licences and write off registration of the companies from the register of insurance brokers in the IA in accordance with the provisions of Clause (2) of Article (22) of the Decision of the IA Board of Directors No. (15) of 2013 concerning the Insurance Brokerage Regulations and its Amendments,” according to a media advertisement published by the regulatory body in local newspaper.

Authority has listed below the 12 cancelled insurance brokers:

-    Al-Hilal Insurance Brokers
-    IphIppIos of Insurance Brokers
-    Julfar Insurance Brokers
-    Company General of the International Insurance Brokers
-    Foundation Liwa Insurance Brokers
-    Horizon Enznettl Anshoranz Brokers
-    Al Rudood Insurance Services
-    Expat Services GMBH
-    Marsh Insurance Brokers
-    Future Insurance Brokers
-    Ruwais Insurance Brokers
-    Arab Commercial Enterprises Co. (Saudia)