Serving multinational insurers in the MENA region
Type
E-journal
Date
9 Jul 2013
Jurisdiction
Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia, United Arab Emirates
Taxonomy
Companies & Corporate Bodies, General Insurance Law
Copyright
LexisNexis
Relevant company
Clyde & Co
Analysis
Before I relocated to this region in 2008, I often acted in the City of London for foreign insurers venturing into the UK and EU markets for the first time, particularly from the US. There was a lot to explain - from advising on what constituted 'carrying on insurance business' in London to the differing duties of directors on either side of the Atlantic.
Now I act regularly for multinational insurers who want to establish themselves in this region, and the legal and cultural challenges of transition are even more pronounced. New multinational entrants hail not only from the EU and US - recent years have been marked by increasing interest from multinationals based in India, Japan and Korea amongst other jurisdictions.