"Standard Life is lobbying for an end to a moratorium on new licences for onshore insurers, in a bid to tap into the UAE market for savings and investment products.
The Edinburgh-based company says that a freeze on new licences - intended to combat saturation in the general insurance segment - was hampering competition in life insurance lines and contributing to the amount of capital sent overseas.
International insurance firms have sought access to an industry that is expected to grow to US$37.5 billion across the Arabian Gulf by 2017, according to estimates from Alpen Capital."
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