Electronically submit the application on the system, by user name and password. In the event that the user is new he shall send an email letter requesting a user name and password.

Complete the service form and upload it along with the documents in the electronic system.

The completed application is reviewed and approved or rejected.

The Authority shall publish the licensing approval decision in the Official Gazette.

Service Fees:

Insurance company license fee of AED 20,000 once at the time of extract printout.

Submit the application electronically

Pay the service fee

Attachments Required

For (national/GCC) insurance companies:

1. The company’s Memorandum of Association and Articles of Association showing the names of founders and the number of shares that have been allocated to each and their respective percentage of shareholding
2. The Economic Feasibility Study and the company's business plan
3. A certificate from an Actuary in the case of personal insurance and fund accumulation operations including: his approval on the basis of calculating the insurance premiums, adequacy of technical provisions, the possibility of compliance with the Solvency Margin and the Minimum Guarantee Amount
4. Any other data or documents as specified by the regulations and rules issued under the Law or as determined by the IA Board of Directors as it deems necessary to consider the application
5. After obtaining the initial approval of the license, the company must provide to the Authority with the following:
6. An official certificate from the competent authorities in the country where the company is registered to show the following
7. A. List of the proposed names for the post of the company's General Manager and its key employees together with a detailed statement of their respective qualifications and experience; in addition to enclosing a proof of such qualifications and experience
8. B. Other approvals and licenses that should be obtained in accordance with the requirements of laws, regulations and rules in force

For (foreign) insurance companies:

1. A. The company was incorporated and registered in that country in accordance with the provisions of applicable laws therein
2. B- Stating the activity licensed to be practiced in in that country
3. c- Stating the legal form of the company
4. D- The paid up part of the subscribed capital of the company may not be less than the equivalent of One Hundred Million Dirhams
5. A summary study of economic feasibility for the company to enter the insurance market in the UAE. The study must show the size of premiums expected to be retained within the State
6. The decision of the competent management board of the foreign company to open a branch and engage in activity in the UAE, as well as the authorization issued for the applying representatives of the company. Such documents must be authenticated, legalized and officially certified
7. spitting image of the memorandum of association and articles of association certified by the competent authorities
8. The last two approved balance sheets of the company along with the auditor's report, profit and loss accounts and notes to the balance sheets, certified by the competent authorities
9. A statement of the branches that will engage in the activity in the State, showing the general conditions for insurance operations in such branches
10. A statement of the benefits, restrictions and conditions included in the insurance policies issued by the company
11. Companies that want to engage in life and savings and fund accumulation classes must have practiced this activity at its main office for a period of no less than twenty years, provided that in addition to the documents mentioned-above the following must be enclosed:-
12. A- A statement explaining the technical bases for the insurance operations in life and savings and fund accumulation classes which the company is applying for
13. B- A statement explaining the pricing bases for the insurance operations in life and savings and fund accumulation classes, along with a certificate from a life insurance Actuary registered in the Actuaries Register of the UAE that the bases, the benefits and limitations of insurance operations in these classes are sound and implementable
14. C- Values of contract recoveries or reduction approved by a life insurance Actuary registered in the Actuaries Register of the UAE
15. D- True copy of the academic degrees and certificates of practical experience duly authenticated for the department specialized in life and savings insurance and fund accumulation operations
16. H- True copy of the registration certificate of the Actuary
17. Specimen of each type of insurance contracts to be issued by the company
18. Duly authenticated true copy of the classification and evaluation certificate according to the following:
19. 1- Standard & Poors
20. a minimum evaluation of AA (Very Strong)
21. 2- A.M.BEST
22. a minimum evaluation of B + +AND B+ (Very Good)
23. Undertaking to abide by the gradual annual schedule to appoint and training UAE citizens

Takaful insurance companies (national, Gulf, and foreign)

1. In addition to providing us with the above documents by type, you provide us with the proposed names of the Sharia Supervision Committee