Insurance, reinsurance and captives.
DIFC’s insurance sector is a vital component of its financial ecosystem, encompassing a wide range of activities from traditional insurance and reinsurance to captive insurance. The Centre’s regulatory framework further provides a stable and secure environment for insurance businesses, attracting both regional and international players.
DIFC is a leading global hub for insurance and reinsurance, and offers the ideal environment to set up your insurance company in Dubai. The Centre’s insurance ecosystem embraces global talent, technical expertise, international underwriting standards and a robust capacity to provide essential risk management solutions.
The insurance and reinsurance companies within DIFC include carriers, third-party administrators (TPAs), captive managers and captive insurance companies, reinsurance brokers and aggregators, Managing General Agents (MGAs) and underwriting agents, and Lloyd’s service companies and coverholders.
DIFC also hosts the Dubai World Insurance Congress – the largest gathering in the region of insurance and reinsurance professionals.
Three easy steps to start setting up your business
Step one.
Submit LOIThe first step is to provide DIFC with a letter of intent (LOI).
Step two.
Obtain DFSA in-principle approvalSecondly, you will need to submit your Regulatory Business Plan (RBP) and application documents to the DFSA, and obtain in-principle approval.
Step three.
SetupComplete the registration and incorporation process with an ROC (including office setup, visas, bank accounts, etc.).
Once all conditions are fulfilled, DFSA grants a licence, and the entity may start the operations.
