The Abu Dhabi Global Market (ADGM) has announced its intent to establish an Insurance Association to bolster the development of the insurance and reinsurance industries within its jurisdiction. This strategic move marks a crucial step toward enhancing Abu Dhabi’s and the UAE’s position as a hub for financial and insurance innovation.
The initiative is aimed at creating a unified platform to support collaboration, foster innovation, and promote best practices among stakeholders in the insurance ecosystem. ADGM stated that the Association would act as a collective voice for the industry, facilitating discussions with regulators, policymakers, and business leaders to address challenges and unlock new opportunities for growth.
Supporting a Sustainable Insurance Ecosystem
The proposed Association underscores ADGM’s commitment to establishing a robust, sustainable, and globally competitive insurance framework. By advancing professional standards and aligning industry practices with national economic objectives, the initiative strengthens ADGM’s reputation as a leading international financial centre.
Arvind Ramamurthy, Chief Market Development Officer of ADGM, commented:
“We welcome the proposal to set up an insurance association within ADGM, which underlines the continued development of the insurance sector and ADGM’s position as a leading financial centre. The strong interest in insurance and reinsurance reflects the sector’s potential, and this association, initiated by market participants, will bring significant benefit to those operating within ADGM’s insurance ecosystem and those looking to enter the market.”
Focus on Collaboration and Innovation
The new Association will provide a platform for insurers, reinsurers, and service providers to share expertise and address sector-wide issues. By working closely with regulatory authorities and industry professionals, the initiative aims to ensure alignment with the UAE’s economic priorities and enhance the competitiveness of its financial landscape.
Further details about the Association’s structure, membership opportunities, and planned activities will be shared soon. ADGM’s emphasis on collaboration and professional growth reflects its vision to build a world-class financial ecosystem that attracts global investment and expertise.
This development reinforces ADGM’s leadership in fostering financial innovation and highlights its commitment to contributing to the UAE’s long-term economic goals.
