United Arab Emirates: Reinsurance

With a number of new regulations issued and others in the pipeline, the UAE insurance regulatory landscape has entered a pivotal new phase.

The Central Bank of UAE (CBUAE) has issued Circular 1/2025 on the Representation Offices of Foreign Insurance Companies and Foreign Reinsurance Companies Regulation...

In a recent landmark ruling following the Order of H.E. Justice Shamlan Al Sawalehi in the matter of Union Insurance Company PJSC v. International Precious Metals Refiners LLC [2024] DIFC CFI 064...

BSA are often instructed by the London market for coverage advice pending disputes between cedant and reinsurers. Many of those treaty terms will be governed...

World Health Organisation (WHO) have officially declared COVID-19 as a pandemic. BSA have already received several instructions regarding coverage advice related to matters arising from the coronavirus

While the overall economic slowdown and disruption in the market has had some impact on the insurance sector as well, the UAE insurance market still seems to be going strong.

The fragmented regulatory landscape in the Gulf Co-operation Council countries is often cited as a challenge for the insurance sector in the region.

A discussion on the ways of handling disputes in the UAE.

The ruling of the English Court of Appeal in The Princess of the Stars that a "follow the settlements" clause in a reinsurance policy does not negate or impinge on the general rule that a stay of English court proceedings, should be granted only in rare and compelling circumstances.