Transamerica Life Bermuda launches in DIFC to boost global expansion
UAE - Transamerica Life Bermuda, the global high-net-worth (HNW) life insurer, is set to launch business in Dubai International Financial Centre (DIFC), according to a press release.
The Dubai Financial Services Authority (DFSA) has granted Transamerica Life Bermuda a license to start operating in the DIFC.
Adnan Ladki has been appointed as Head of DIFC for Transamerica Life Bermuda. He will work closely with the leadership team to achieve the companies' goals for the region.
Kristine Ung, CEO at Transamerica Life Bermuda, stated: 'Our entry into DIFC marks a significant milestone in our global growth strategy. Securing this license will allow us to support our distribution partners in the Middle East, which is becoming a vital international financial and wealth management hub.'
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, commented: 'Our progressive and pioneering laws and regulations continue to attract leading industry names to DIFC, which includes more than 125 insurance related entities.'
Having been operating for 180 years through Aegon and Transamerica, Transamerica Life Bermuda brings significant experience in large sums assured and managing complex customer scenarios to the Middle East.
DIFC is home to major insurance brokers, five of whom are among the top ranked entities by AM Best.
The center unveiled record-breaking growth in 2024 with a total of 6,920 active companies, with strong financial performance.
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