The UAE is one of the leading financial centers in the Middle East, making it an ideal location to establish an insurance company. The primary legislation regulating insurance and reinsurance companies in the UAE is Federal Law No.6, also known as the Insurance Legislation.
This law governs the Insurance Authority and the Regulation of Insurance Operations Creation. One of the most prominent free zones in Dubai for establishing financial companies, including insurance firms, is the Dubai International Financial Center (DIFC), which has its own laws and regulations.

Types of Insurers in the UAE
The UAE’s insurance industry is diverse, encompassing various types of insurers, including:
– Actuaries
– Insurance agents
– Insurance brokers
– Insurance advisors
– Adjusters for loss and injury
Before you can open an insurance company in the UAE, you must register with the authorities and apply for an Insurance Authority license. The type of service you offer will determine the specific operating license you receive.
Licensing Requirements for Starting an Insurance Company in UAE
To establish an insurance company in the UAE, you must prepare incorporation documents and other documents related to your specific activities. The bank guarantee requirement varies, with AED 3 million required for insurance brokers. Additionally, all insurance companies in Dubai must use specialized electronic systems to provide their services.
Steps to Start an Insurance Company in UAE
Starting an insurance company in the UAE involves several steps, similar to setting up any other business in the region:
- Trade Name Reservation
Register a trade name with the Department of Economic Development (DED). Provide three name choices for approval based on availability. The operation code will be part of the brand name reservation’s initial approval.
- Initial Approval
After reserving the trade name, apply for initial approval. Choose trading activities from the list provided by the DED. Submit all required documents to the DED for review and receive the Initial Approval Certificate.
- LSA Agreement
Once initial approval is granted, draft a Local Service Agent (LSA) agreement. This agreement can be in Arabic or bilingual (English and Arabic) based on client needs. If bilingual, the agreement must be legalized by a notary public from a Legal Consulting company.
- Court Agreement
Notarize the Memorandum of Association (MOA) in the presence of a court representative. Prepare four copies of the agreement: one for the court, one for the spouse, one for the local partner, and one for the service provider if needed.
- Documentation
Submit all documents to the DED to receive the Payment Voucher. The DED will enter the company into the Commercial Registry, and the Payment Voucher will serve as the trade license.
- License Procedures
Pay the Payment Voucher fee at the DED using cash or credit card and collect the Trade License. Make any necessary changes, such as adding a PO box or other details.
Documents Required for Insurance Brokers in UAE
If you are an insurance broker in the UAE, gather the following documents to start your firm:
– List of partners
– LLC agreement
– Application form
– Trade license copy
– DED payment receipt of trade license
– Passport and visa copy of the authorized signatory
– Commercial register (3 copies of the trade license)
Why Start an Insurance Company in UAE?
Starting an insurance company in the UAE is a wise investment due to the growing financial sector. Whether you’re a licensed insurance broker or considering a career change, establishing an insurance firm in the UAE offers numerous opportunities.
Choose Unicorn Global Solutions to Assist You
At Unicorn Global Solutions, we prioritize customer relationships and tailor our solutions to meet your specific needs. We assist clients in starting their businesses, whether on the Mainland or in Free Zones, providing comprehensive Government and PRO solutions. Our experts in Dubai company formation can also help you establish insurance companies in the emirate’s free zones.
Contact us for more details on starting a business in Dubai’s insurance sector and take advantage of our expert guidance to successfully launch your insurance company in the UAE. Text us on WhatsApp or call us today.