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THE EVENING EDITIONInsurance. Risk. A changing world.
Evening edition / 6 November 2026Two editions a day, wire updated in between · How we report · The team

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Kuwait regulator orders insurers to adopt IFRS 18 reporting from January 2027

Kuwait's Insurance Regulatory Unit has told insurers to apply IFRS 18 to their financial statements from 1 January 2027, Middle East Insurance Review reported. They must also restate 2026 comparative figures.

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AI-assisted summary · Source checkedReported by Asia / Middle East Insurance Review on
Summary published 6 November 2026
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A circular from Kuwait's Insurance Regulatory Unit (IRU), dated 1 November 2026 and issued by IRU Head Mohammad Sulaiman Al-Otaibi, requires insurers to use IFRS 18 for annual and interim reports from 1 January 2027, Asia / Middle East Insurance Review reported. The standard sets new rules for presentation and disclosure in financial statements.

Companies must restate 2026 comparatives and prepare in advance by updating policies, procedures and systems in coordination with their external auditors. Auditors will have to consider compliance with both IFRS 17 and IFRS 18 and disclose any material non-compliance in their reports.

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This is an original summary of the linked report, selected by our GCC market monitor. Facts are attributed to the publication.

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DIFC says its insurance hub wrote $4.2bn of premiums in 2025 and expects 20% growth this year

Insurance and reinsurance firms in Dubai's DIFC wrote $4.2bn of gross premiums in 2025, 20% more than a year earlier, a DIFC Authority official told a roundtable, Middle East Insurance Review reported. Managing general agents wrote $2.9bn of that. She expects growth of about 20% again in 2026, based on first-half figures.

Added 6 Nov 2026Asia / Middle East Insurance Review

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