Managing general agent, XS Global, has established its presence in Dubai with the launch of its operating unit, XS Global (DIFC) Limited, led by Stephen Saunders.
The MGA has stated this move is to strengthen its reinsurance capacity globally, as Dubai serves as a prime location for conducting business in Europe, the Middle East, and Africa (EMEA).
The establishment of this operation aligns with the MGA’s expansion plan to enhance its geographical reach.
As explained by the MGA, this operation provides opportunities to deploy reinsurance capacity directly to corporates and retail brokers through expert, locally-based underwriters.
Post granting of a full license to operate within the Dubai International Financial Centre (DIFC), XS Global (DIFC) Limited, regulated by the DFSA, will offer clients solutions in the sectors of Natural Resources, initially.
These solutions will include upstream, downstream, power generation, and renewable energy in the EMEA, Asia and Asia Pacific Regions.
Saunders, who is an industry veteran with over four decades of experience, has been named SEO at XS Global (DIFC) Limited. His extensive career in the industry includes roles with increasing capacity with insurers and Lloyds including names like AXIS, QBE and Cigna.
The company stated, “Stephen Saunders has been active in the region for the past 30 years, so his experience will bring a wealth of knowledge to our Dubai operation.”
The Dubai team is also supported by Jawad Ghunaim, who is snow serving as Chief Underwriting Officer of the operation. He has twenty years of experience and has formerly served with Zurich and AIG.
Lastly, Sana Memon will also be a tool in helping the duo as she joins the team with over fifteen years of underwriting experience. She has previously worked at Zurich Insurance.
Saunders concluded, “I am thrilled to be leading our projects in Dubai. XS Global is an established MGA with a significant portfolio underwritten through its twelve lines of business, supported by its experienced claims and operations teams.
“I am looking forward to maximising our platform and deploying our comprehensive reinsurance capacity offerings in the region.”
