Insurance & Pensions in United Arab Emirates

Why this matters

FSRA consultation on proposed regulatory framework for business transfer schemes in ADGM. Introduces new proportionate regime under Chapter 8A of GEN with streamlined notification/consent requirements for non-insurance transfers while maintaining mandatory court sanctioning for insurance business transfers.

Why this matters

Regulatory enforcement action by DFSA against a reinsurance broker for misleading and deceptive conduct toward clients and reinsurers over three years. Individual prohibition and firm fine reflect serious misconduct in insurance intermediation. Informational news announcement of completed enforcement matter.

Why this matters

This regulatory update from the DFSA imposes a fine on a reinsurance brokerage firm for engaging in misleading and deceptive conduct, including non-disclosure of brokerage commissions and use of altered documents.