ADGM to Establish Insurance Association: A Boost for UAE's Financial Sector

ADGM has announced plans to form an Insurance Association, marking a significant milestone to enhance the insurance and reinsurance sectors in the UAE. This initiative will foster stakeholder collaboration, elevate industry standards, and ensure alignment with ADGM's financial goals, reinforcing its status as a premier financial hub.

In a groundbreaking development, the Abu Dhabi Global Market (ADGM) has announced the impending creation of an Insurance Association within its jurisdiction. This strategic move is poised to significantly advance the insurance and reinsurance industries across the United Arab Emirates.

The newly proposed Association is expected to become a cornerstone for collaboration among key stakeholders. It aims to elevate professional standards and disseminate best practices within the insurance sector. Additionally, it will act as a unified voice to engage with regulators, policymakers, and industry leaders, addressing emerging challenges and opportunities head-on.

Highlighting ADGM's dedication to cultivating a strong, sustainable insurance ecosystem, Chief Market Development Officer Arvind Ramamurthy emphasized the project's importance. He noted the association's potential to draw significant benefits for both current and potential market participants, reinforcing ADGM's standing as a leading financial hub. Further details on the Association's framework and initiatives will be shared soon.

(With inputs from agencies.)