Central Bank cancels First Insurance Brokers licence
The Central Bank of the UAE (CBUAE) has revoked the operating licence of First Insurance Brokers Company, effective immediately. Insurance brokers and their clients should verify counterparty status and cease transacting with the firm. Affected policyholders should contact their insurers or the CBUAE for guidance on policy continuity.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- Verify that your insurance broker is still licensed via the CBUAE register. If you transact with First Insurance Brokers, cease business immediately and contact your insurer or the CBUAE for next steps.
Source
“The Central Bank of the UAE (CBUAE) has revoked the operating licence of First Insurance Brokers Company, effective immediately.”
— Central Bank of UAE, 12 Jan 2024
Source: Central Bank of UAE — official 12 Jan 2024 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
Verify that your insurance broker is still licensed via the CBUAE register. If you transact with First Insurance Brokers, cease business immediately and contact your insurer or the CBUAE for next steps.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
12 Jan 2024.
Where can I read the original?
Read the original at Central Bank of UAE: https://www.centralbank.ae/en/news-and-publications/news-and-insights/press-release/cbuae-cancels-the-licence-of-first-insurance-brokers-company/
Subscribe — free
Get the next change before it's a deadline
The whole front, every morning. Free.