New trading rights in Abu Dhabi Global Market
Lloyd’s has secured new trading rights in the Abu Dhabi Global Market free zone.
Lloyd’s has secured new trading rights for the market in the Middle East. The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), a financial free zone created in the emirate of Abu Dhabi, has agreed for Lloyd’s managing agents to appoint intermediaries authorised by the FSRA in the ADGM as coverholders or service companies to underwrite business on their behalf in the free zone.
This new market access allows coverholders and service companies in ADGM to underwrite reinsurance of regional and UAE risks and insurance of ADGM risks. It will therefore complement the Lloyd’s platform in the Dubai International Financial Centre (DIFC).
For further information about the new trading rights please see Crystal.
If you have any queries relating to this article, please contact Lloyd’s International Trading Advice.