IBG Membership consists of Chairman / Board Members / Chief Executive Officer / General Manager of Insurance Companies (National & International), Reinsurance Companies (National & International), Insurance Brokers (National & International), Reinsurance Brokers (National & International), Insurance Consultants, Actuaries, Insurance (TPA), and Loss Adjusters registered under the regulation of the Insurance Authority (Central Bank of UAE). Such members shall have the right to vote, elect and nominate for the membership of the Board of Directors.

IBG’s management confers a Representative Committee consisting of thirteen members, five represent the National Insurance Companies, two represent the International Insurance Companies, three represent the National Insurance Brokers, two represent International Insurance Brokers, and one represents the Loss Adjusting Company.

The General Assembly elects the Representative Committee by secret ballot from among its paid members to hold office for a period of two years under the supervision of the Dubai Chamber of Commerce & Industry. These elected Board of Directors then with an internal vote elect a Chairman, Vice-Chairman, Secretary-General, and Treasurer from its own elected members.

IBG provides an excellent forum for assisting its members to increase their visibility and to develop more effective business relationships within the Insurance community. IBG reaches these goals by organizing informative periodical events and conducting workshops/training sessions for insurance professionals on different topics of interest whether from Conventional Insurance or Takaful (Islamic Insurance) while providing informative publications/journals/periodicals while retaining an Annual Membership Directory of Members.

The Insurance Business Group (IBG) was established on 8th September 2004 as a non-profit organization, and the permit was granted under the provision of Law No. 8 of the year 1997 on the organization of The Dubai Chamber of Commerce & Industry & its amendments which was the 17th such group to be formed under its stewardship. 

The objectives as per the preamble of the Insurance Business Group (IBG) are as follows:

• Promote co-operation among member companies.

• Evolve and implement self-regulation in core areas of business.

• Promote insurance training and education including public campaigns on safety at work and premises, road safety, and other critical areas.

• Deliberate on general and specific challenges faced by the insurance industry.

• Facilitate Emiratization in the insurance sector.

• Establish contacts and promote interaction with other trade bodies of the Chamber, international, regional, and national insurance associations/institutions/bodies, etc.

• Promote insurance awareness among the public and consumers of insurance.

• To increase our member network by interacting with other business councils and groups within the national business community in the UAE. 

IBG VISION: WORKING FOR A BETTER INSURANCE INDUSTRY

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