Our insurance industry report for the United Arab Emirates (UAE) is based on the preliminary reports of 28 insurance companies listed on the Abu Dhabi Securities Exchange and Dubai Financial Market. We discuss in detail the transition to International Financial Reporting Standard 17 (IFRS 17), which replaced IFRS 4 starting in January 2023. Our market overview includes a review of key industry metrics, and we cover the Central Bank of the UAE's main priorities for reporting requirements and timelines in 2024. Our paper is organized as follows:
- Transition to IFRS 17
- Market overview
- Regulatory updates
- Market developments and updates
- Appendix