Foreign brokers may open subsidiaries

Reinsurance brokers may, henceforth, obtain a license to operate on the market. The finance ministry has also authorized foreign brokers to open subsidiaries in Syria. The minimum capital required for local and foreign brokers is respectively 1.07 million and 1 million USD.
vidual shareholders cannot hold more than 5% while insurers are not allowed to enter the shareholding. Twelve insurance companies and a national reinsurer are operating in Syria.