FSRA Enhances Insurance Framework and Introduces Climate Risk Management Requirements
Summary
The Financial Services Regulatory Authority (FSRA) of ADGM has implemented enhancements to its insurance regulatory framework following Consultation Paper No. 13 of 2025, including alignment with IAIS Insurance Core Principles, operationalisation of IFRS 17 Insurance Contracts, and new proportionate requirements for the identification and management of climate-related financial risk. The amendments take effect from 27 April 2026, applying to all Authorised Persons and Recognised Bodies operating within ADGM's jurisdiction.
Insurers and reinsurers authorised in ADGM should initiate gap analyses against the updated Rulebooks well before the April 2026 effective date — particularly for IFRS 17 readiness, which typically requires significant systems and process changes. Non-insurance Authorised Persons should begin scoping climate-related financial risk exposure even though requirements are described as proportionate, as the FSRA has signalled ongoing supervisory attention to this area.
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GovPing monitors ADGM Announcements for new banking & finance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 17 changes logged to date.
What changed
The FSRA has adopted amendments to ADGM's insurance regulatory framework encompassing three areas: (1) enhancements to insurance risk management, market conduct and reinsurance practices aligned with IAIS Insurance Core Principles; (2) measures to operationalise IFRS 17 Insurance Contracts for insurers and reinsurers; and (3) miscellaneous amendments providing additional regulatory clarity and removing unnecessary requirements. Additionally, the FSRA is introducing proportionate requirements for all Authorised Persons and Recognised Bodies requiring them to consider and manage climate-related financial risk where material to their business.
Insurers and reinsurers authorised in ADGM must prepare for IFRS 17 accounting standard implementation and enhanced IAIS-aligned risk management requirements by the 27 April 2026 effective date. All Authorised Persons and Recognised Bodies should assess climate-related financial risks within their business models and implement proportionate management frameworks.
What to do next
- Review the updated Rulebooks and related materials
- Consider and manage climate-related financial risk where material to business
Archived snapshot
Apr 27, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Media Announcements ADGM FSRA Implements Enhancements to the Regulatory Framework for Insurance and Introduces Climate-Related Financial Risk Management Requirements
ADGM FSRA Implements Enhancements to the Regulatory Framework for Insurance and Introduces Climate-Related Financial Risk Management Requirements
ADGM FSRA: Today
Download Arabic The Financial Services Regulatory Authority (FSRA) of ADGM today announced the implementation of the proposals in Consultation Paper No. 13 of 2025. These proposals implement targeted enhancements to ADGM’s insurance regulatory framework, and introduce proportionate requirements for the identification and management of climate-related financial risk, by Authorised Persons and Recognised Bodies.
The amendments to the insurance framework include:
- Enhancements relating to insurance risk management, market conduct and reinsurance practices, in order to ensure continued alignment with international standards as represented by the Insurance Core Principles issued by the International Association of Insurance Supervisors;
- Measures to operationalise accounting standard IFRS 17 Insurance Contracts for ADGM insurers and reinsurers; and
- Miscellaneous amendments to provide additional regulatory clarity and remove unnecessary requirements. In addition, the FSRA is introducing proportionate requirements for all Authorised Persons and Recognised Bodies, requiring them to consider and manage climate-related financial risk where that is material to their business.
The final amendments will take effect from 27 April 2026.
The updated Rulebooks and related materials may be accessed via 27 April – FSRA Rules (Insurance & Climate-Related Financial Risk Management) | Rulebook.
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