Reinsurance News
Dubai International Finance Centre
Number of re/insurance companies based at the DIFC grows 14% in H1’24
30th July 2024
The number of insurance and reinsurance companies based in the Dubai International Financial Centre (DIFC) has grown to 125 companies, up from 110, the centre has reported in its results for the first half of 2024. An international financial hub in the Middle East, Africa and South Asia (MEASA), Dubai-based DIFC ... Read the full article
Dubai’s DIFC records highest GWP in its history at almost $2.6bn in 2023
29th April 2024
The Dubai International Financial Centre (DIFC) has reported the highest gross written premiums (GWP) in its history at close to $2.6 billion in 2023, an increase of 23% on the prior year's $2.1 billion. Alongside the highest GWP in 20 years, the DIFC also saw a 20% rise in registration of ... Read the full article
Africa Specialty Risks gets ‘in principle’ approval from Dubai Authority to register as a company
25th January 2024
Pan-African-focused reinsurance group Africa Specialty Risks (ASR) has been approved ‘in principle’ by the Dubai Financial Service Authority to register as a company, setting the stage for the incorporation of a new entity, ASR Middle East. According to the firm, the ultimate goal is to establish its presence with an office ... Read the full article
Dubai (DIFC) grants captive licence to mining and metals company, Ma’aden
9th March 2023
Dubai International Financial Centre (DIFC), a leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has granted a captive licence to Ma’aden, the largest multi-commodity mining and metals company in the Middle East, and one of the largest mining companies in the world based on ... Read the full article
Sukoon’s Syndicate 2880 at Lloyd’s obtains its DIFC licence
22nd December 2022
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia region, has granted an operating licence to Sukoon’s Syndicate 2880. The new office at DIFC will be led by Amey Masurkar as the SEO and Syndicate Manager. Mike Davies will head International Marine and ... Read the full article
Volante targets Middle East growth with DIFC launch
20th October 2022
Volante Global, an international managing general agent platform and Lloyd’s Syndicate, has announced the launch of Volante (DIFC) at Dubai International Financial Centre (DIFC), the global financial centre in the Middle East, Africa and South Asia (MEASA) region. Having received regulatory approval from the local regulator, Volante (DIFC) will offer reinsurance ... Read the full article
DIFC achieves growth targets three years early
22nd February 2022
The Dubai International Financial Centre (DIFC) says it has achieved its 2024 Strategy growth targets three years ahead of schedule, after seeing a record 996 company registrations last year. The 36% YoY growth in company numbers is triple the average reported by the DIFC across the last decade. The total number of ... Read the full article
Gen Re opens new office at the DIFC
15th November 2021
General Reinsurance AG (Gen Re) has bolstered its presence in the Middle East with the launch of a new office at the Dubai International Financial Centre (DIFC). The launch makes Gen Re the second insurer owned by Berkshire Hathaway to expand its presence in the region. Gen Re has been granted a ... Read the full article
Oman Insurance Company approved for DIFC syndicate-in-a-box
29th September 2021
Oman Insurance Company (OIC) and Asta, the leading third-party managing agent at Lloyd’s, have been granted ‘in-principle’ approval from Lloyd’s to launch Syndicate 2880 under the Syndicate-in-a-Box initiative (SIAB). The syndicate will operate on the Lloyd’s platform under the Dubai International Financial Centre (DIFC). Dubai-based insurer OIC will provide lead and follow ... Read the full article
Sinosure becomes first Chinese insurer to open DIFC office
29th June 2021
China Export and Credit Insurance Corporation (Sinosure) has chosen the Dubai International Financial Centre (DIFC) as the location for its first office in the Middle East. Sinosure is a state-funded and policy-oriented insurance company established to promote China’s foreign economic, trade development and cooperation on a non-profit basis. It is the first ... Read the full article
Africa Re joins DIFC in Middle East expansion
5th October 2020
Africa Reinsurance Group has selected the Dubai International Financial Centre (DIFC) for its first office outside Africa. DIFC is a financial centre in the Middle East, Africa and South Asia (MEASA) region and says Africa Re will operate as Africa Re Underwriting Agency Limited. Africa Re's focus is on the underwriting of proportional and ... Read the full article
DIFC signs MoU with Lloyd’s, CII
30th December 2019
Leading financial hub in the Middle East, Africa and South Asia (MEASA), The Dubai International Financial Centre (DIFC), has signed two key memorandums of understandings (MoU) designed to drive the region’s insurance sector by upskilling talent as well as promoting efficiency and improvement. It’s hoped the MoUs, signed with Lloyd’s and ... Read the full article
ACE Insurance Brokers to launch DIFC-based reinsurance operation
27th February 2019
Gulf Cooperation Council (GCC) privately-owned insurance broker, ACE Insurance Brokers, is to establish a dedicated reinsurance operation in Dubai, based in the Dubai International Financial Centre (DIFC). The new business will join the broker's region-wide network, which is comprised of 16 offices across eight countries. From DIFC, ACE's reinsurance industry experts will ... Read the full article
Lloyd’s eyes 20% premium growth in MENA region in 2018
23rd November 2017
The specialist Lloyd's of London insurance and reinsurance marketplace is anticipating 20% year-on-year premium growth in 2018 for business written out of its Middle East and North Africa (MENA) base, according to Vincent Vandendael, Lloyd's Chief Commercial Officer, in an interview with The National. Lloyd's opened its MENA base in the ... Read the full article
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