Central Bank revokes Galaxy Insurance Broker licence — insurance sector — effective immediately
The Central Bank of the UAE (CBUAE) has revoked the operating licence of Galaxy Insurance Broker, effective immediately. This action removes the firm's authority to conduct insurance brokerage business in the UAE. Existing clients must transfer their policies to a licensed broker without delay.
The analysis — automated & source-checked
- Applies to
- Financial services · UAE
- What to do
- If you hold policies through Galaxy Insurance Broker, contact the CBUAE or a licensed alternative broker immediately to transfer your coverage and ensure continuity.
Source
“The Central Bank of the UAE (CBUAE) has revoked the operating licence of Galaxy Insurance Broker, effective immediately.”
— Central Bank of UAE, 26 Jul 2024
Source: Central Bank of UAE — official 26 Jul 2024 Read the original ↗ More from Central Bank of UAE →
Quick answers
What do I need to do?
If you hold policies through Galaxy Insurance Broker, contact the CBUAE or a licensed alternative broker immediately to transfer your coverage and ensure continuity.
Who issued this?
Central Bank of UAE (UAE).
When was it announced?
26 Jul 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-revokes-the-licence-of-galaxy-insurance-broker/
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