Dubai International Financial Centre announced at the Dubai World Insurance Congress that gross written premiums generated by insurance and reinsurance business in the Centre rose 35% in 2024 to a record USD 3.5bn, up from USD 2.6bn, with more than 125 insurance and reinsurance entities operating in DIFC. The Centre also unveiled its first report on the outlook for the global insurance industry, produced with research partner Asia House as part of DIFC’s Future of Finance series. The Congress is being hosted as DIFC’s largest insurance and reinsurance gathering to date, with 1,700 attendees from 82 countries and more than 6,000 deal-making meetings scheduled, and has been extended to three days. The report, titled Embedding Resilience: Opportunities for the Global Insurance Industry, highlights growth dynamics in the USD 8trn global insurance market and identifies opportunities linked to narrowing the gap between insured and uninsured assets, as well as themes including climate and cyber risks, evolving risk modelling, artificial intelligence in claims and distribution, increased collaboration between incumbents and InsurTechs, and emerging opportunities associated with Web3 and crypto assets.
Dubai International Financial Centre 2025-04-28
Dubai International Financial Centre reports 35% rise in 2024 gross written premiums to USD 3.5bn and launches first global insurance outlook report
At the Dubai World Insurance Congress, the Dubai International Financial Centre (DIFC) reported a 35% increase in gross written premiums to USD 3.5 billion in 2024, with over 125 insurance and reinsurance entities operating there. DIFC released its first report on the global insurance industry's outlook, highlighting growth opportunities in the USD 8 trillion market, including climate and cyber risks, AI in claims, and collaboration with InsurTechs. The Congress, DIFC's largest to date, features 1,700 attendees from 82 countries and over 6,000 scheduled meetings.