Al Wathba Becomes First UAE Insurer to Access Lloyd's via a Cell Structure

Al Wathba Insurance has become the first UAE-based insurer to secure access to the Lloyd's of London market through the London Bridge 2 protected cell company, an insurance-linked securities structure. The arrangement, finalised through a dedicated cell within the London Bridge 2 vehicle, marks a notable step in the UAE insurer's growth strategy and reflects the wider spread of alternative capital and risk-transfer techniques into the Gulf's insurance sector. London Bridge 2 is a structure that allows investors and insurers to deploy capital into the Lloyd's market in a streamlined, ring-fenced way, with each cell's assets and liabilities kept separate. For a UAE insurer, gaining access to Lloyd's, one of the world's most established specialty and reinsurance marketplaces, can open the door to additional underwriting capacity, diversification and closer integration with global markets. The move mirrors a broader trend in which insurers and reinsurers increasingly use protected cell and insurance-linked securities structures to connect traditional insurance with capital-market funding. It also underscores the UAE's ambitions to develop as a regional insurance and reinsurance hub, with local players seeking to expand their reach and sophistication on the international stage.