The insurance, reinsurance and captives market in the Middle East, Africa and South Asia (MEASA) region is experiencing a fundamental transformation.
New opportunities are fuelled by a low base of insurance coverage, increasing health insurance mandates, and trillions of dollars in projects. The region also offers exciting niche opportunities in cyber risk, trade credit, political risk, luxury goods and financial lines.
DIFC provides reinsurers, brokers, independent Managing General Agents and Lloyd's Coverholders a robust, globally recognised regulatory environment within the region. The Centre helps firms manage their set-up costs and time to market.
It delivers providers and brokers access across the region, freeing them from the complexity of conflicting country-level compliance, supervision and reporting requirements.
DIFC laws and regulations accommodate multiple areas of practice in all life and non-life and Islamic (takaful and retakaful) lines of insurance and reinsurance. The Centre offers reasonable capitalisation requirements and a risk-based capital approach that puts no up-front restrictions on insurers’ capital investment strategies.
DIFC also provides an attractive environment for captive insurance companies, with regulations that permit single parent, association and group captives. Smaller companies that don’t have sufficient size to justify a captive can implement DIFC’s Protective Cell Companies structure, which offers lower formation costs and capital requirements.
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