Professional Accounting for Insurance Companies in Dubai

Our professional accounting services in Dubai are structured to ensure full compliance with UAE insurance industry regulations, supporting both operational accuracy and financial transparency:

• Premium accounting with IFRS-compliant chart of accounts for insurance operations
• Claims management, periodic return filing, and reconciliation (CBUAE portal integration)
• Solvency computation and filing based on regulatory capital rules
• Monthly financial statements, trial balances, and management reports
• Reserve calculations and actuarial data management

Regulatory Compliance Services

These consultancy services help insurance companies maintain regulatory alignment while protecting against regulatory penalties and compliance risks:

• Statutory reporting with automated setup via CBUAE-linked systems
• Insurance Authority registration for designated insurance entities
• Financial records review for red flags and suspicious transaction reporting in line with AML regulations

Audit Readiness and Historical Compliance

Our accounting services for insurance companies in Dubai offers services designed to recover historical compliance, restore reporting accuracy, and prepare businesses for regulatory audits:

• Reconstruction of missing or delayed premium and claims records
• Support for late regulatory registration and voluntary disclosures
• Documentation compilation for CBUAE audit queries and Insurance Authority reviews
• Creating and maintaining actuarial reserves for previous periods

All insurance companies in UAE must maintain compliant financial records, regardless of size or legal structure. As per the UAE Commercial Companies Law (Federal Law No. 32 of 2021), records must reflect a true and fair view of financial performance. Services such as structured accounting for insurance, regulatory filing, and financial statement preparation ensure businesses meet these legal obligations consistently and accurately.

Applicable Laws & Resolutions

Dubai accounting for insurance companies must comply with federal laws, administrative penalties, and CBUAE rules on solvency and recordkeeping:

• UAE Insurance Law (Federal Decree-Law No. 6 of 2007)
• Cabinet Decision No. 23 of 2019 (Insurance Companies Governance)
• Central Bank of the UAE recordkeeping and prudential guidelines

Risk & Penalty Mitigation

Oncount helps reduce the risk of fines through timely filings, compliance checks, and accurate financial reporting:

• Failure to maintain proper accounting may trigger fines of AED 50,000 to AED 500,000 under CBUAE penalties
• Misclassification under free zone exemptions may invalidate regulatory benefits
• Our tools include audit readiness checklists, record backup protocols, and deadline monitoring to avoid penalties

Oncount is a Dubai-based accounting and advisory services firm specializing in end-to-end regulatory compliance for the insurance industry. With a focus on UAE corporate regulation, our services specifically designed are built to align with both CBUAE mandates and international accounting standards. We support both mainland and free zone insurance businesses by integrating local regulatory awareness with international accounting rigor.

8+ Years of Local Experience, 320+ Clients Served

Established in 2016, Oncount has served over 320 companies across the UAE, ranging from startups to multinational subsidiaries:

• Services delivered in English, Arabic, and Russian to support Dubai’s multilingual business community
• Full adherence to CBUAE guidelines, UAE Cabinet Decisions, and IFRS reporting practices
• Jurisdiction-specific expertise across DIFC, ADGM and mainland licensing authorities

Clarity Over Routine: Professional Chartered Accountants and Consultants in Dubai

Oncount prioritizes transparency, communication, and actionable insights over passive data entry. Each client is assigned a dedicated accounting manager with a defined escalation structure. Reports are delivered in investor-ready formats, supporting strategic planning and regulatory readiness. Our comprehensive services include:

• Full accounting for insurance companies and maintenance of financial records
• Regulatory compliance filing and audit and tax compliance
• Statutory returns and advisory services
• CBUAE reporting and Insurance Authority management
• Risk management compliance and regulatory reporting
• Financial statements and complex actuarial analysis
• Structured monthly workflows with cutoff dates and SLA-based delivery
• Communication via Zoom, WhatsApp, and secure email
• Custom reporting templates for board meetings, lender reviews, and regulatory submissions

When you handle your accounting activities through outsourcing to professional accounting firms in Dubai like Oncount, you gain:

• Time to focus on core business growth initiatives
• Cost savings compared to in-house accounting teams
• Expert accounting for insurance services and strategic financial management guidance
• Accurate financial reporting aligned with UAE requirements
• Reduced risk of fines and regulatory penalties
• Up-to-date financial insights for better informed decision-making

If your company in UAE requires accurate, legally compliant, and fully customized accounting services for insurance companies, Oncount offers unmatched regulatory alignment, experience in the insurance industry, and responsive client support to meet the needs of insurance businesses in Dubai.