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Article (16)

Effective from 14/5/2019
  1. The following documents shall be attached to the application for opening abranch of the reinsurance company established in the State:

    A. The Board of Directors' decision to open the branch.

    B. The economic feasibility study to open the branch and work plan of the branch.

    C. The organizational structure of the branch and name list of the branch manager and senior officers therein; provided that the list includes the names of those persons authorized to sign on behalf of the branch.

    D. The Emiratization percentage in the company shouldn’t be less than the percentage determined by the pertinent official authorities.

    E. An undertaking by the company to render specialized training programs in the field of reinsurance for the UAE Nationals working therewith.

    F. Any other documents as determined by the Authority.

  2. The Director General may approve or reject the application and shall statethe reasons behind rejection. In the latter case, the Company shall have theright to submit an appeal to the Board of Directors of the Authority and thedecision of the Board shall be final.