COBS 7.2.2

An Authorised Person must ensure that it does not:

(a) if it is an Insurer, Effect a Contract of Insurance or carry out a Contract of Insurance through an establishment maintained by it in the Abu Dhabi Global Market; or
(b) if it is an Insurance Intermediary, act in relation to a Contract of Insurance;

where the contract is in relation to a risk situated within the U.A.E., unless the risk is situated in the Abu Dhabi Global Market, or the contract is one of re-insurance.