Duabi, Samsung life insurance plan alliance

Dubai is planning to tie up with Samsung Life Insurance in a partnership to sell life insurance in the emerging markets, the Financial Times reported. Investment Corporation of Dubai (ICD), the sovereign fund that supervises the investment portfolio of the Government of Dubai, is expected sign a memorandum of understanding on Monday with Samsung Life Insurance, the report said. The partnership would concentrate on selling life insurance products to the Middle East and north Africa, where penetration levels are low, the report quoted a person close to ICD as saying. Dubai and Samsung may consider expanding into other non-life insurance products and other sectors, such as property, the report said.