Impact of new regulations on Emirati life insurance brokers

The new life insurance regulations came into force on 15 October 2020. The text imposes a reduction in the commission for Emirati brokers. Although such a decision benefits the life market, it might impact the sector. Due to the decline in their revenues, a big number of intermediaries would face bankruptcy.

The Emirati insurance market counts 62 insurance companies including 12 life insurers. 163 insurance brokers and 20 agents operate in the UAE.