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Article (15) Opening a Branch of the Insurance Agency in the UAE

IA-BOD-RES 8/2011 Effective from 7/4/2011
  1. An Insurance Agent may apply for the opening of a branch or more of the insurance agency in the UAE if the following requirements are satisfied:
     
    1. A period of not less than two years has elapsed since the Insurance Agent was registered in the Register during which the Insurance Agent actually practiced the business and has not been subject to any disciplinary penalty.
       
    2. The principal company requests the opening of a branch for the agency;
       
    3. The initial approval of the Competent Authority in the concerned Emirate is granted; and
       
    4. A proposed Action plan for branch required to be opened is provided.
       
  2. The Insurance Agent shall submit an application to the IA using the form prepared by the IA for this purpose.
     
  3. The Director General shall issue a decision accepting or rejecting the application to open the branch. The decision of rejection by the Director General shall be final.