The Financial Services Regulatory Authority (FSRA) of ADGM today announced the implementation of the proposals in Consultation Paper No. 13 of 2025. These proposals implement targeted enhancements to ADGM’s insurance regulatory framework, and introduce proportionate requirements for the identification and management of climate-related financial risk, by Authorised Persons and Recognised Bodies.
The amendments to the insurance framework include:
- Enhancements relating to insurance risk management, market conduct and reinsurance practices, in order to ensure continued alignment with international standards as represented by the Insurance Core Principles issued by the International Association of Insurance Supervisors;
- Measures to operationalise accounting standard IFRS 17 Insurance Contracts for ADGM insurers and reinsurers; and
- Miscellaneous amendments to provide additional regulatory clarity and remove unnecessary requirements.
In addition, the FSRA is introducing proportionate requirements for all Authorised Persons and Recognised Bodies, requiring them to consider and manage climate-related financial risk where that is material to their business.
The final amendments took effect on 27 April 2026.
The updated Rulebooks and related materials may be accessed via 27 April – FSRA Rules (Insurance & Climate-Related Financial Risk Management) | Rulebook.
To learn more, click here.
————
Disclaimer: The content of the above information is sourced (or provided), in entirety or in parts from an external source and the content may or may not be edited. The Wealth Today shall not be held liable for damages arising out of any action taken with respect to the use or consumption of information or service published above or anywhere else on the website. This website does not guarantee the accuracy, views, opinions, or any promises expressed in the above news. If you find any errors or discrepancies in the above information, you can write to us at editor@thewealth.today.
