New Insurance Premium Payment Process in Line with CBUAE Regulations

In accordance with the latest regulations issued by the Central Bank of the UAE (CBUAE) — Article 7.1, Circular No. 1/2024, dated 01/04/2024 — and effective 15th February 2025, all insurance premium payments must now be made directly to the respective insurance company. This regulatory change is aimed at enhancing transparency, reducing intermediaries in payment flows, and ensuring greater protection for policyholders.

What This Means for You as a Customer:

  1. Direct Payments Only:
    All future insurance premium payments must be made directly to the insurance company via bank transfer, online payment, cheque, or any other approved method.
  2. Accurate Remittance:
    Ensure that you use the correct bank details of the insurance company to settle the corresponding premium tax invoice, to avoid delays in policy issuance or renewal.

Steps to Follow:

  • Review & Follow Payment Instructions:
    Double-check the invoice and instructions provided at the time of placing the policy.
  • Update Your Records:
    If you had saved Savington’s payment details earlier, please replace them with those of the respective insurance company.
  • Submit Proof of Payment:
    Once payment is made, share the payment confirmation and reference details with the sales agent.

     📞 For any assistance: 04 396 2333 / info@savington.ae

This is a regulatory mandate under CBUAE guidelines and must be strictly followed. We are here to guide you through the transition and ensure your coverage is never affected.

Thank you for your continued trust in Savington Insurance Brokers.
 Safe. Secured. Insured.