UAE Insurance Authority issues regulations to traditional and Takaful insurers
H. E. Eng. Sultan bin Saeed Al Mansouri, UAE Minister of Economy and Chairman of the Insurance Authority, issued Decision No. (25) of 2014 Pertinent to Financial Regulations for Traditional Insurance Companies and Decision No. (26) of 2014 Pertinent to Financial Regulations for Takaful Insurance Companies, which regulate the financial, technical, investment, and accounting operations of Traditional and Takaful insurers operating in the UAE. Included in the regulations, an actuary is accredited for every insurance company operating in the UAE and there are new investment rules to protect the rights of policyholders and companies against risks.
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