The ADGM Financial Services Regulatory Authority has implemented the proposals set out in Consultation Paper No. 13 of 2025, introducing targeted amendments to ADGM’s insurance regulatory framework and new proportionate requirements for Authorised Persons and Recognised Bodies to identify and manage climate-related financial risk. The insurance changes cover enhancements to insurance risk management, market conduct and reinsurance practices to maintain alignment with the International Association of Insurance Supervisors’ Insurance Core Principles, alongside measures to operationalise IFRS 17 Insurance Contracts for ADGM insurers and reinsurers. The package also includes miscellaneous amendments intended to provide additional regulatory clarity and remove unnecessary requirements, while the climate-related requirements apply across all Authorised Persons and Recognised Bodies where such financial risk is material to their business. The final amendments take effect from 27 April 2026.
ADGM Financial Services Regulatory Authority 2026-04-27
ADGM Financial Services Regulatory Authority implements insurance framework enhancements and introduces climate-related financial risk management requirements
The ADGM Financial Services Regulatory Authority has implemented proposals from Consultation Paper No. 13 of 2025, introducing targeted amendments to the insurance regulatory framework and proportionate requirements for Authorised Persons and Recognised Bodies to manage material climate-related financial risk. Changes include enhancements to insurance risk management, market conduct and reinsurance practices to maintain alignment with the International Association of Insurance Supervisors’ Insurance Core Principles, operationalisation of IFRS 17 Insurance Contracts for ADGM insurers and reinsurers, and amendments to improve regulatory clarity and remove unnecessary requirements.