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Abu Dhabi [UAE], December 12 (ANI/WAM): ADGM announced the forthcoming establishment of the Insurance Association within its jurisdiction.
This initiative represents a significant milestone in advancing the insurance and reinsurance sectors in ADGM and the UAE, aiming to create a unified platform to support industry growth and innovation. The Association will play a pivotal role in fostering collaboration among key stakeholders, advancing professional standards, and promoting best practices within the insurance industry. It will serve as a collective voice for the sector, engaging with regulators, policymakers, and industry leaders to address emerging challenges and opportunities while ensuring alignment with the ADGM's mandate and UAE's economic and financial development goals. This landmark initiative underscores ADGM's commitment to establishing a robust, sustainable, and globally competitive insurance ecosystem, reinforcing its position as a leading financial centre. Arvind Ramamurthy, Chief Market Development Officer, ADGM, said, "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." ADGM announced that further details regarding the Association's structure, membership opportunities, and upcoming activities will be announced in due course. (ANI/WAM)
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