Dubai International Financial Centre (DIFC) recorded in 2023 the highest gross written premiums in its 20-year history at close to US$2.6 billion, up 23 per cent from the previous year. DIFC also reported a 20 per cent increase in registration of (re)insurance firms, including the first re-domiciliation of a Guernsey-based captive. Furthermore, premiums brokered in DIFC reached US$2 billion in 2023, increasing by 61 per cent from US$1.2 billion recorded in 2022. According to DIFC, managing general agents (MGAs) represent 43 per cent of new registrations, owing to Dubai’s globally recognised regulatory environment that enables partnerships with cedants and brokers. Arif Amiri, CEO at DIFC Authority, comments: “DIFC is now home to more than 120 registered insurers, reinsurers, captives, MGAs, and insurance-related entities, reaffirming our position as a global hub for the industry. “Our ongoing partnership with Global Reinsurance for the Dubai World Insurance Congress (DWIC) reflects DIFC’s commitment to driving economic growth and the future of finance.” DIFC is the co-host of the DWIC, which is set to convene more than 1,300 delegates from over 73 countries from 29 to 30 April at Atlantis, The Palm.
