The UAE Insurance Authority has suspended, for one year, the requirement for local insurers to place risks only with rated reinsurers. Local insurers may now place risks with non-rated reinsurers.
This decision follows the placement difficulties encountered by Emirati insurers [4] after the tightening of treaty renewal conditions imposed by reinsurers at the end of 2020.
Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Freinsurance-investments-to-expand-in-the-uae&text=Reinsurance+placements+to+expand+in+the+UAE
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Freinsurance-investments-to-expand-in-the-uae&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/2021-a-transition-year-for-insurers
[4] https://www.atlas-mag.net/en/article/uae-insurance-market-in-2019-top-30-insurers-per-gwp