Transamerica Life Bermuda Secures DFSA Licence to Expand in Dubai's DIFC
Transamerica Life Bermuda has received regulatory approval from the Dubai Financial Services Authority (DFSA) to establish operations within Dubai International Financial Centre (DIFC), marking a major step in its global expansion strategy.
The move positions the high-net-worth life insurer at the heart of the Middle East's leading financial hub, allowing it to better support regional distribution partners and tap into the growing demand for wealth management and insurance solutions.
Kristine Ung, CEO of Transamerica Life Bermuda, called the licence 'a significant milestone,' highlighting the Middle East's rising status as a global financial centre. The firm, known for its expertise in large sums assured and complex client needs, brings nearly 180 years of heritage through its parent companies Aegon and Transamerica.
Adnan Ladki has been appointed as Head of DIFC for the insurer and will lead efforts to strengthen its presence and partnerships in the region.
DIFC officials welcomed the addition. 'Our progressive laws continue to attract leading global insurers,'
said Salmaan Jaffery, Chief Business Development Officer at DIFC Authority. He noted that over 125 insurance-related entities now operate in DIFC, reinforcing its role as the region's primary insurance and reinsurance hub.
The Centre, benchmarked against top regulatory regimes such as London and Hong Kong, continues to draw top-ranked firms and foster industry collaboration through platforms like the Dubai World Insurance Congress.
Transamerica Life Bermuda's entry into DIFC reflects both the company's international ambitions and the Centre's growing appeal to global financial leaders seeking access to MEASA markets.
News Source: Dubai Media Office
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