In anticipation of the approaching deadline under the “three year solvency reprieve” reported in June 2012, extending to August 2015 the deadline for insurance companies carrying out composite business to segregate life and non-life business into separate undertakings, the UAE Insurance Authority (the IA) has been working on refining the draft solvency and financial reporting regulations which appeared in 2011. The seven previous draft regulations have now been consolidated into “Draft Combined Regulations”, published in December last year.