The UAE has issued a new insurance law that was published in the Official Gazette on 31 October 2023 and entered into force on 30 November 2023.
Dubai National Insurance & Reinsurance (DNI) has a track record of strong operating performance, as demonstrated by a five-year (2018-2022) weighted average return-on-equity ratio of 8.2%, says AM Best.
InsurTech company Shory.com has joined hands with the Abu Dhabi Government services platform TAMM, representing the Department of Government Enablement - Abu Dhabi (DGE) to provide citizens and residents of the emirate with a seamless and hassle-free solution for their car insurance needs.
The premiums for electric vehicle (EV) insurance policies for electric cars have declined by about 50%, especially after demand increases for such cars, according to Mr Moh'd Mazhar Hamadeh, chairman of the Motor Committee of the Emirates Insurance Association.
The UAE is making significant changes to efforts to cut emissions, according to Mr Fadi Al Shihabi, partner and head of ESG Advisory Services at KPMG Lower Gulf. A huge shift into implementation is likely to follow in the next couple of years.
Over 6.6m workers have subscribed to the Unemployment Insurance Scheme by 15 November 2023, the Ministry of Human Resources and Emiratisation (MoHRE) reveals.
The Dubai Financial Services Authority (DFSA), a founding member of the UAE Sustainable Finance Working Group (SFWG), took a significant step by adopting, alongside other financial regulators of the UAE, the Principles for the effective management of climate-related financial risks (the Principles).
UAE nationals can expect more job opportunities in the insurance and banking sectors, the Central Bank of the UAE (CBUAE) says in a statement.
Tokio Marine Insurance, a leading global insurance provider, has entered into a strategic partnership with the Dubai Chamber of Digital Economy (DCDE).
Management actions implemented by Abu Dhabi National Takaful Company (ADNTC) since 2020, including the restructuring of the family takaful reinsurance programme and strategic diversification of the underwriting portfolio, are expected to contribute toward maintaining the company's strong underwriting performance over the coming years, says AM Best.