Seen in the photograph are Mr. M. R. Kumar, Chairman, LIC of India (sitting second from the right), Mr. Thomas Mathew T., Director, LIC (International) (sitting third from the right), Mr. Sunil Kumar Thakur, CEO & Managing Director, LIC (International) (sitting first from the right). Also seen are other officials of LIC International and Intercol standing behind.
The MOU is signed by Mr. Rajesh Kandwal, CEO & MD, LIC (International) and Mr. Sajith Kumar P K, CEO & Managing Director, IBMC International UAE in the presence of H.E. Sheikh Khalid Bin Ahmed Al Hamed, Chairman-IBMC International UAE and Adv. Benoy Sasi–International Lawyer-DIFC, India High Courts, duly witnessed by Ms. Mini Ipe, Executive Director (International Operations), LIC of India and Mr. Suyash Telang, Resident Manager, Abu Dhabi.
Chairman, Shri V.K. Sharma (third from right) being awarded with most prestigious IBMC UAE- INDIA Business Ambassador Award 2017 at IBMC UAE- INDIA BUSINESS FEST 2017 by H. E. Shaikh Khalid Bin Ahmed Al Hamed (second from right), Chairman, IBMC, United Arab Emirates. In this picture, third from left is Mr. Sajith Kumar P K, CEO& MD of IMBC and first from the right is H.E. Dr. Mohammed Saeed Al Kindi, Former Minister of Environment & Water, UAE.
Mr. V. K. Sharma, Chairman of LIC India delivering his keynote address on ‘‘Insurance Regulatory Changes and Its Advantages in the Changing Economic Scenario’’ on the Dias in IBMC UAE- India Business fest 2017.
Mr. V.K. Sharma, Chairman of LIC India is being welcomed by Mr. Rajesh Kandwal, CEO& MD, LIC (International) at LIC (International) Branch Office at Abu Dhabi on 12th December, 2017.
Mr. V. K. Sharma, Chairman of LIC India (sitting third from right ), Mr. Rajesh Kandwal, CEO& MD, LIC (International) along with Team members at Abu Dhabi Branch Office on 12th December 2017.
The United Arab Emirates (“UAE”) has recently issued its domestic VAT Law, Federal Decree-Law No. 8 of 2017 (“Decree Law”) to implement Value Added Tax (“VAT”) in the UAE at the standard rate of 5%, by 1 January 2018.
The Ministry of Finance, UAE has published Executive Regulations in respect of VAT on 28th November 2017 which provides you clarity with respect to how VAT will apply to financial services.
You can get the detailed information on
https://www.mof.gov.ae/En/budget/Pages/VATQuestions.aspx#faq2
Application to our services
As per law, Life Insurance comes under exempt services. But few of our services are subject to VAT. Please contact our branch office in Dubai or Abu Dhabi for more details.
VAT will apply to supplies of goods and services from 1 January 2018, even if the contract for the supply of such goods or services was entered into before that date. This means that even though you have taken life insurance policy before 31.12.2017, VAT may apply to some services which will be provided to you from 1 January 2018.
Contact Details of our Offices in UAE
Dubai Office,
Life Insurance Corporation (International) BSC (c),
106, Baituti Building, Behind Karama Fish Market, PO Box 60793, Al Karama,
Dubai (UAE)
Tel: +971-4-3354858, Fax: +971-4-3354684
Toll free Number- 800-LICI (8005424)
Abu Dhabi Office,
Life Insurance Corporation (International) BSC (c),
404,4’th Floor, Al Maheri Building, Near NMC hospital, Madina Zayed,
Abu Dhabi (UAE)
Tel: +971-2-6399133, Tel: , Fax: +971-2-6399131
The 100th Meeting of the Board of Directors of LIC (International) BSC © was held at Movenpick Hotel, Bahrain on 23rd November, 2017.
The meeting was attended by Mr. V.K. Sharma, Chairman, LIC of India, Mrs. Usha Sangwan, Managing Director, LIC of India, Mr. Abdulrahman Ali Alwazzan, Director, Intercol, Mr. Rajesh Kandwal, CEO & MD, LIC (International) Bahrain.
The Board took note that the Company has already achieved its New Business target in terms of Total First Premium Income and also Non Single Premium. The total First Premium Income achieved by the Company as on 15th November, 2017 is over USD 371 million, registering a growth of over 36 percent. In terms of new policies written, the Company registers a healthy growth of over 6 percent. As on 15th November, 2017, 18 Consultants have qualified for MDRT and 2 for COT during the year.
From left to right: Mr. Jayachandran Kittikkat (Deputy Chief Accountant, Intercol), Mr. M. Manikkan (Chief Accountant, Intercol), Mr. Partha Samal (General Manager, LIC International), Mr. Rajesh Kandwal (CEO & MD, LIC International), Mr. Ali A.R. Al Wazzan (Deputy Director, Intercol), Mr. AbdulRahman Ali Al Wazzan (Director, Intercol), Mr. Vikash Sharma (Regional Head MENA, ICICI Bank), Mr. Rajesh Devlal (Country Head Bahrain, ICICI Bank), (Mr. Saransh Jain, Head- Retail Banking ICICI Bank).
From left to right: Mr. M. Manikkan (Chief Accountant, Intercol), Mr. Partha Samal (General Manager, LIC International), Mr. Rajesh Kandwal (CEO & MD, LIC International), Mr. Ali A.R. Al Wazzan (Deputy Director, Intercol), Mr. AbdulRahman Ali Al Wazzan (Director, Intercol), Mr. Vikash Sharma (Regional Head MENA, ICICI Bank), Mr. Rajesh Devlal (Country Head Bahrain, ICICI Bank), (Mr. Saransh Jain, Head- Retail Banking ICICI Bank), (Mr. Sachin Sethi, Head-Private Banking ICICI Bank).
As a global brand, UCMAS is the largest worldwide skill development program promoting the universal concept of a mental arithmetic system for children between the ages of 4 and 12. Operational in 52 countries, UCMAS has trained more than a million students worldwide and about 25000 students across 27 centers in the United Arab Emirates since its inception in 2003. The UCMAS approach promotes holistic brain development and establishes core skills that greatly enhance the learning experience of the child with the aim of bringing out the best in every child.
UCMAS is one of the programs promoted by Abacus Quest Point (AQP), a company registered in the UAE and part of ARK Global Venture, a holding company registered in the United Kingdom. Other programs promoted by AQP include DinoArt, Robotics and Vegaamath.
