Sukoon Insurance PJSC announced that it has officially secured a mainland fund administrator license from the UAE Capital Market Authority (CMA), enabling the establishment of Sukoon Workplace Savings Solutions Fund Administrator LLC (SWSSFA) in the UAE.
According to the company, the newly established entity will provide administration services related to workplace savings schemes and support the development of Alternative End-of-Service Benefits (EOSB) schemes across the UAE.
The licensing allows Sukoon to expand its employee benefits ecosystem and offer a broader suite of workplace savings and financial wellbeing solutions for UAE corporates.
Key highlights:
• Mainland fund administrator license secured from UAE CMA
• New entity established: Sukoon Workplace Savings Solutions Fund Administrator LLC (SWSSFA)
• Focus on workplace savings scheme administration
• Supports development of Alternative EOSB schemes in the UAE
• Expands Sukoon’s employee benefits offerings for UAE corporates
Hammad Khan, Interim CEO at Sukoon Insurance, described the approval as a “pivotal milestone” for the company and a key step within Sukoon’s long-term diversification strategy.
According to Sukoon, the onshore licensing of SWSSFA reflects its commitment to supporting the UAE’s evolving End-of-Service Benefits landscape through secure, transparent and efficiently administered savings structures.
The development comes as the UAE continues expanding regulated workplace savings frameworks and employee financial wellbeing initiatives across the financial services sector.
Source: Sukoon Insurance PJSC
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.