The Financial Services Regulatory Authority (FSRA) of the ADGM, an international financial free zone in Abu Dhabi, has announced the implementation of several changes to enhance ADGM's insurance regulatory framework, and introduce proportionate requirements for the identification and management of climate-related financial risk.
The amendments to the insurance framework include:
- Enhancements relating to insurance risk management, market conduct and reinsurance practices, in order to ensure continued alignment with international standards as represented by the Insurance Core Principles issued by the International Association of Insurance Supervisors;
- Measures to operationalise accounting standard IFRS 17 Insurance Contracts for ADGM insurers and reinsurers; and
- Miscellaneous amendments to provide additional regulatory clarity and remove unnecessary requirements.
In addition, the FSRA is introducing proportionate requirements for all Authorised Persons and Recognised Bodies, requiring them to consider and manage climate-related financial risk where that is material to their business.
The amendments entered into effect on 27 April 2026.