Updated Emiratisation Plan for UAE Insurance Sector
United Arab Emirates outlines ambition for Emiratisation: Aiming for a 50%-60% quotient in the insurance sector by 2030.
Hear ye, hear ye! The UAE's fresh strategy, valid from 2027 to 2030, aims to set Emiratisation rates of lofty heights—50 to 60%—within the insurance sector, contingent on the scale of the companies involved.
This bold move also calls for a mandatory yearly Emirati employment in businesses boasting 2 to 19 staff members. For larger entities with 20 or more workers, there'll be a 30% localization requirement across all roles, 45% in critical positions, and a 30% localization in leadership roles like CEOs and general managers.
Recently, during a Federal National Council (FNC) meeting, UAE Minister of State for Financial Affairs, Mohamed Al Husaini, confirmed enhancements in Emiratisation within the insurance industry. Speaking of stats, as of June 1, 2025, Emiratis made up 2,159 out of 9,773 employees (that's approximately 22.09%), compared to 13.34% in 2022 and 21.64% in 2024[3].
"The 2022-2026 strategy aims to elevate the localisation rate to 30% by 2026, with an annual boost of about 3%," said the minister[3]. Let's not forget that the Central Bank instituted a dedicated Supervision and Inspection Unit to ensure companies adhere to the plan. Door-knocking scofflaws with fines of Dh60,000 for each missing Emirati on their payroll[3].
And that's not all! The Central Bank has been investing in human capital development—6,138 Emiratis seized opportunities for advanced professional training programs with prestigious global academic institutions, covering areas like accounting, finance, auditing, anti-money laundering, AI, and data science[3]. They even inked a deal with the Emirates Institute of Finance to grant 100 annual scholarships in actuarial science, with nine fortunate Emiratis studying overseas[3].
Projects in the pipeline include joint ventures with national and international universities like Higher Colleges of Technology, Zayed University, American University in Dubai, to launch a bachelor's degree program in actuarial science, kicking off in September 2025[3]. These scholarships will receive support from insurance companies to cover tuition fees for 25 to 30 students each year[3].
Want more? Here are related reads:
- Fines up to Dh96k: UAE private firms reminded to meet Emiratisation targets by end of year
- UAE plans to verify Emiratisation targets for private companies from July 1
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[1] Increasing Emiratisation rates: gov.ae/emiratisation-rates[2] National participation & workforce demographics: gov.ae/participation[3] Central Bank of UAE's updated Emiratisation plan: centrbank.ae/emiratisation-plan
- In line with the Central Bank's investment in human capital development, 6,138 Emiratis have benefited from advanced professional training programs in various fields, such as accounting, finance, auditing, AI, data science, and anti-money laundering.
- The UAE's updated Emiratisation plan for the insurance sector has led to the establishment of a Supervision and Inspection Unit by the Central Bank to ensure compliance with the new requirements.
- Florishing in the realm of education, the UAE has partnered with universities like Higher Colleges of Technology, Zayed University, and American University in Dubai to launch a bachelor's degree program in actuarial science, which is set to commence in September 2025.
- With the updated Emiratisation plan, the finance sector in the UAE is fostering a greater emphasis on business, lifestyle, and technology news as more Emiratis enter the workforce, particularly in critical and leadership roles within the insurance industry.
