MGAs Drive Rapid Growth in Dubai’s Insurance Market
MGAs Drive Rapid Growth in Dubai’s Insurance Market

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In the Middle East, managing general agents (MGAs) are expanding rapidly, particularly in Dubai’s Dubai International Financial Centre (DIFC), which accounted for 43% of new registrations in the region. A recent report from Global Insurance Law Connect highlights the MGA market’s growth as aligned with economic improvements and a more skilled workforce. DIFC achieved a record in gross written premiums amounting to nearly $2.6 billion in 2023, reflecting a 23% increase from the previous year. This expansion is seen as a response to rising infrastructure investments, increasing demand for specialized insurance coverage, and an optimistic outlook for insurance market growth in the coming years.

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