HDI Global, a commercial and specialty lines insurer, has announced the opening of its office in Dubai, after receiving regulatory licence from Dubai Financial Services Authority (DFSA), and the appointment of Willem van Wyk as the Managing Director.
The insurer plans to commence its operations from the Dubai International Financial Centre (DIFC) in the third quarter of 2024.
The new local presence in DIFC will allow HDI Global to bring its global financial strength and technical expertise closer to clients in the Middle East.
It will initially offer engineering, construction and property insurance products. As the business grows, additional lines of cover will be offered as part of the portfolio in Dubai.
Joining van Wyk in the Dubai office are Riziq Ishaq, who has been appointed to lead the property underwriting line, and John Morrell, who will lead construction and engineering.
Currently Regional Market Manager ASEAN and Australasia, van Wyk brings over 30 years of global insurance industry experience including senior leadership roles in the Middle East market and beyond.
Prior to joining the HDI Global team, he held senior positions at AGCS, Marsh and Commercial Union, including as CEO AGCS in Dubai from 2016-17. This followed his previous experience in the Middle East in the insurance industry, living there from 2001-05.
van Wyk commented: “The Middle East continues to become a more important player in the global economy. The DIFC is a dynamic marketplace that provides growth opportunities for HDI now and in the future.
“HDI is excited to bring A-rated capacity and a strong underwriting team to support brokers and clients in the DIFC. As a Partner in Transformation we are confident with our global capabilities and technical expertise that HDI can support our clients in their transition to the economy of the future.”
Ishaq brings over 20 years of experience in the insurance industry, having worked with companies like Allianz, Zurich, and IGI. He has extensive expertise in portfolio steering and risk management, as well as rich professional history with direct, regional, and international insurance and reinsurance companies.
Morrell, currently Underwriting Manager Engineering, Northern Region, in the Australian branch of HDI Global, brings a strong background in managing large-scale infrastructure projects and a deep understanding of technical and industry requirements.
He joined HDI Global in 2017 following his earlier engineering career.
The Dubai office will be supported by HDI Singapore office, which will be provisioning other functions and underwriting lines of business including liability and marine, with the vision to transition to a fully integrated business in the medium term.
HDI’s new Dubai office is part of the firm’s growth strategy in the Asia Pacific and Middle East region.
“As part of the overall global vision and APAC growth strategy, Dubai is an exciting opportunity for us to move closer to this expanding market, strengthen our relationships with brokers and clients by providing solutions through a local team of underwriters, led by Willem van Wyk who has many years’ experience in the market,” David Hullin said, who is
member of the HDI Global board of management with responsibility for the international business.
Hullin continued: “HDI Global’s move demonstrates our successful business development and supports our global vision to be the Partner in Transformation for our clients. For brokers in the region, they will have local access to a long-term reliable partner with responsive claims, international programmes, and risk consulting capabilities for their clients. I wish Willem and the entire team in Dubai every success.”
Arif Amiri, Chief Executive Officer of DIFC Authority, stated: “We welcome HDI Global to DIFC. As the region’s largest financial centre with over 42,000 people, the DIFC continues to enhance its ecosystem for the sector.
“With its 20-year strong track-record of servicing people and businesses in the region, the Centre is home to the largest cluster of over 100 registered insurers, reinsurers, captives and insurance-related entities who are utilising our platform to achieve their growth ambitions. Our world-class laws and regulations enable these companies to confidently operate in the jurisdiction, capture new growth opportunities, and collectively contribute to driving the future of finance.”
