Conditions to carry out a bancassurance activity in the United Arab Emirates

The Emirates Insurance Supervisory Authority "the Insurance Authority" has imposed five conditions to practise a bancassurance activity in the United Arab Emirates.

Insurers wishing to carry out bancassurance activities must:

• obtain approval from the central bank,
• appoint an employee charged with the marketing of insurance in each bank office,
• organize training courses for employees,
• submit a contract bearing the signature of the insurance company and that of the customer of the bank,
• comply with the insurance regulations set by the supervisory authority.