1)

A foreign Insurance Company’s branch shall appoint a manager to manage the branch, who is authorized by a document attested by the relevant authorities to exercise all the powers necessary to manage such branch, including:

a. 

Issuing Insurance Policies and annexes thereof and paying the claims arising therefrom;

b. 

Representing the Company’s branch before the CBUAE, competent court and other relevant authorities; and

c. 

Receiving communications, notices and all correspondence served to the Company.

2)

Before the carrying out Insurance Business, a foreign Insurance Company’s branch shall submit an application to the CBUAE for licensing the branch; provided that the manager’s appointment decision and the document referred to in Clause (1) above shall be attached to the application.

3)

The foreign Insurance Company’s branch shall notify the CBUAE of the Authorized Manager’s name within one month from his appointment date, and shall appoint a substitute within one month from the date on which position becomes vacant.