The Abu Dhabi Global Market (ADGM) has announced plans to establish a new Insurance Association to bolster the UAE’s insurance and reinsurance sector. According to an official statement released today, the initiative aims to create a unified platform to support the sector and drive innovation in alignment with ADGM’s broader economic vision.
Supporting Policies and Driving Collaboration
The new association will collaborate with regulatory bodies and policymakers to tackle industry challenges and capitalize on emerging opportunities. Arvind Ramamurthy, Chief of Markets at ADGM, highlighted the continuous growth of the insurance sector, emphasizing that the association will add significant value to industry professionals and support their efforts to expand in the market.
A New Milestone for Abu Dhabi
This initiative represents a milestone in reinforcing Abu Dhabi’s position as a leading global financial center. The increasing demand for insurance services across the UAE highlights the vast potential within the sector, making this association a pivotal tool for fostering growth and innovation.
More Details to Come
The statement also noted that further details regarding the association’s structure and membership opportunities will be disclosed in due course. This move is anticipated to set new benchmarks for professional standards and best practices in the region’s insurance market.
Abu Dhabi’s commitment to strengthening its financial ecosystem continues to attract global attention, and this new association marks a strategic step toward aligning the UAE’s insurance sector with international standards.