Insurance broker Marsh has been awarded the first licence to provide captive insurance management services in Abu Dhabi.
Operating as Marsh Management Services (MENA) Limited, the firm has been authorised to provide captive insurance management services by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). The AGDM is the International Financial Centre in the capital of the United Arab Emirates.
“Abu Dhabi aims to play a pivotal role in meeting the growing financial, insurance needs and requirements of the region, while connecting and strengthening links between the financial markets of Europe, the Middle East, Africa and Asia,” said Ronny Vellekoop, senior executive officer, Marsh.
Richard Teng, chief executive officer of the FSRA, said ADGM will “continue to strengthen its captive insurance regime to provide users with strategic risk management and financial solutions to support their business ambition and growth locally and globally.”
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