How To Set Up A Reinsurance Business In The UAE

January 2, 2025

The United Arab Emirates (UAE) has emerged as a significant hub for the reinsurance industry in the Middle East and North Africa (MENA) region. The country’s strategic location, robust economy, and favourable regulatory environment have attracted global reinsurance companies and fostered a thriving ecosystem. As a gateway to the MENA region, the UAE is the ideal location for reinsurance companies to access a vast customer base. With its supportive regulatory frameworks, the UAE is poised to attract foreign investment, promoting the growth of the reinsurance sector. Its diversified economy, including sectors such as energy, tourism, and trade, creates a diverse risk pool for reinsurance companies. 

Entrepreneurs who want to thrive in this growing industry can choose the following business activities under their business license.

6520.00 – Reinsurance

Reinsurance in the UAE is a critical aspect of the country’s insurance sector, providing a safety net for primary insurers against large-scale losses. Essentially, reinsurance involves one insurance company (the reinsurer) assuming a portion of the risk of another insurance company (the ceding company). Reinsurance includes risk transfer, financial stability, capacity expansion, and risk management. Businesses in this sector work in catastrophe reinsurance, life reinsurance, property reinsurance, and casualty reinsurance.

Third-party Approval: Third-party approval from the Central Bank of the UAE (CB)/Sharjah Insurance Authority is required for business activity 6520.00 prior to obtaining your business license

Filing of Economic Substance Return: Business activity 6520.00 is exempt from this requirement

Anti-Money Laundering Compliance: Business activity 6520.00 is exempt from this requirement

6520.01 – Activities of assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers

Through reinsurance activities, the ceding company is allowed to spread its risk exposure more widely, reducing its vulnerability to large losses. Reinsurance is a fundamental mechanism in the insurance industry that enables primary insurers to manage their risk exposure more effectively and provide broader coverage to their clients. Businesses in this sector work in catastrophe reinsurance, life reinsurance, property reinsurance, and casualty reinsurance, from risk transfer and financial stability to capacity expansion and risk management.

Third-party Approval: Third-party approval from the Central Bank of the UAE (CB)/Sharjah Insurance Authority is required for business activity 6520.01 prior to obtaining your business license

Filing of Economic Substance Return: Business activity 6520.01 is exempt from this requirement

Anti-Money Laundering Compliance: Business activity 6520.01 is exempt from this requirement


Did you find what you were looking for? Explore the other guides in our Activity Hub for exploring unique business ideas in Dubai and navigate the essentials of business setup with ease.

You can also calculate your business setup costs easily using our handy cost calculator and choose from our customized company setup packages to find your perfect fit.

Get your business license in the UAE today and explore a world of opportunities waiting for you.

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