Governance, Risk and Compliance – The UAE Insurance Industry

Date: 2016-01

“• The UAE’s insurance industry is governed by the Insurance Authority, which aims to promote stability and confidence in the financial system.

• The Insurance Authority is planning to introduce a new insurance law to promote driver safety.

• Health insurance was made compulsory for expatriates in Dubai effective from January 2014.

• Insurance and reinsurance companies in the UAE are not subject to corporate income tax.

• Non-admitted reinsurance is permitted in the UAE.”

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