Dubai International Financial Centre (DIFC) News

BHSI Expands Team in Dubai with Product Line, Service Appointments

Berkshire Hathaway Specialty Insurance Co. (BHSI) announced that it has further expanded its leadership team in the Dubai International Financial Centre (DIFC), with the appointment of executives to fill key product line and service posts. “Building a strong foundation of …

Riley Appointed Head of RSA’s Operation in Dubai International Financial Centre

International insurer RSA has appointed Chris Riley as senior executive officer for RSA’s operation in the Dubai International Financial Centre (DIFC). Riley has held this position on an interim basis since May and was previously RSA’s marine hub leader, DIFC …

Qatar Re to Stop Writing, Renewing Facultative Business in Dubai

Qatar Reinsurance Co. Ltd. (Qatar Re) has announced it will suspend the writing of all new and renewing facultative business from its branch office in the Dubai International Financial Centre. However, facultative coverage will continue to be provided by the …

BHSI Opens Dubai Office, Names Cerase & Yadvendu to Head Middle East Region

Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has received an insurance license from the Dubai Financial Services Authority and established an office in the Dubai International Financial Centre (DIFC). It also has named Alessandro Cerase as its senior executive …

Lloyd’s Coverholder, Arma Underwriting, Launches in Dubai with MENA Focus

Asta, the Lloyd’s third party managing agent and specialist MGA investor, announced that Dubai-based Arma Underwriting Ltd. has received full approval from all regulators and commenced operations last month. Asta-backed Arma is an approved Lloyd’s coverholder that writes multi-line re/insurance …

Arch Re Launches Gulf Underwriting Entity to Supplement Gulf Re’s Role

Arch Reinsurance Ltd. has created an entity to handle its underwriting in the Gulf region and eventually replace the role Gulf Re plays in its business there, a few years after it fully acquired the struggling reinsurer for this purpose. …

Asta Invests in London & Dubai Reinsurance MGA, Arma Underwriting

Asta, the London-based Lloyd’s third party managing agent and specialist MGA investor, announced it has agreed to invest in the development of Arma Underwriting Ltd. Asta will take a minority equity stake in Arma and will also support the company’s …

Dubai International Financial Centre Grows 16%, Despite Economic Slowdown

Dubai International Financial Centre said the number of companies based in the hub rose 16 percent during the first half even as lower oil prices and slowing economic growth forced some banks in the United Arab Emirates to cut jobs. …

Talbot & Markel Offer D&O Facility in MEA Region with Per-Risk Capacity of $30M

Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., has joined forces with specialist insurer Markel International to provide a facility for directors and officers risks in the Middle East and Africa (MEA) marketplace. Offered through Lloyd’s Dubai, …

PartnerRe Establishes Branch Office in Dubai

Bermuda-based PartnerRe Ltd. announced that its subsidiary, Partner Reinsurance Europe SE, has been granted a license from the Dubai Financial Services Authority (DFSA) to operate as an Authorized Firm in the Dubai International Financial Centre (DIFC), effective December 16, 2015. …