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Marie Chowdhry and Jessa White of Pinsent Masons were responding as the FRSA announced new, targeted amendments to its insurance regulatory framework.
The amendments follow an earlier consultation that proposed considerable enhancements to insurance risk management, market conduct and reinsurance practices, updates to operationalise IFRS 17, and miscellaneous amendments aimed at improving regulatory clarity and alignment with broader UAE legal requirements
Parallel to this, the FSRA has also introduced proportionate requirements requiring…