Global wholesale and reinsurance broker Cooper Gay Swett & Crawford (CGSC) announced that after receiving the requisite approval from the Dubai Financial Services Authority it has launched Cooper Gay (Dubai) Limited, a wholly owned subsidiary of Cooper Gay (Holdings) Limited.
The office is based in the Dubai International Financial Centre (DIFC), and represents CGSC’s “first footsteps into the Middle East and North Africa (MENA) region, with further expansion planned for the future.”
CGSC said the new company will handle “all classes of business in conjunction with the Group’s wholesale operations in London, Asia and around the globe,” and “will structure innovative treaty and facultative solutions for regional and multinational insurance companies. It will also work with third party brokers across the MENA region.”
Toby Esser, CGSC Group CEO commented: “The insurance industry in the MENA region is undergoing significant transformation and has demonstrated impressive growth in recent years. We believe that there is tremendous potential for CGSC, particularly following Lloyd’s plans, announced earlier this year, to open a representative office in the emirate.
“The CGSC model places local experts in core client markets. With Dubai, specifically the DIFC, fast becoming a major regional hub for insurance and reinsurance we are now committed to this vibrant region for the long term.”
CGSC also announced the appointment of Su (Andy) Chang as Senior Executive Officer of Cooper Gay (Dubai) Limited. He joined Cooper Gay Asia in September 2013 to develop the company’s business in Singapore and to identify opportunities across the MENA region. He is a reinsurance professional with over 10 years’ experience in the industry and has held numerous management positions across the Middle East and Asia.
Steve Britten, CEO Cooper Gay Asia Pacific & MENA said: “CGSC sees MENA developing to be a significant contributor to our global business. By utilizing Andy Chang’s considerable experience and in-depth regional knowledge, which also complements our existing Asia and London teams, we aim to identify significant growth generating opportunities for Cooper Gay in the region.”
Source: Cooper Gay Swett & Crawford
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