CBUAE suspends motor insurance operations of foreign insurer

The Central Bank of the UAE (CBUAE) has suspended the motor insurance operations of a foreign insurer’s branch, citing non-compliance with key financial regulations.

The move was made under Articles 33 and 44 of the Federal Decree Law No. 48 of 2023, regulating insurance activities in the country.

The Central Bank says the decision follows the company’s failure to meet solvency and guarantee requirements.

Despite the suspension, the insurer remains responsible for all existing insurance contracts signed before the action was taken.

The name of the entity involved has not been disclosed by the authority.

The #Central_Bank_UAE suspended the motor insurance business of a foreign insurance company’s branch (insurer), pursuant to Articles (33) and (44) of Federal Decree Law No. (48) of 2023 Regulating Insurance Activities.

For more information: https://t.co/hciQEfQpAM

— Central Bank of the UAE (@centralbankuae) July 29, 2025