Latest news with #AlyaAlZarouni
Mid East Info
29-04-2025
- Business
- Mid East Info
DIFC announces 35% leap in insurance business during largest ever Dubai World Insurance Congress - Middle East Business News and Information
DIFC welcomes 1,700 professionals from 82 countries to the largest ever Dubai World Insurance Congress Centre announced 35% leap in insurance and (re)insurance business with Gross Written Premiums at USD 3.5bn generated by 125 insurance-related entities Launch of first ever report into the outlook for the global insurance industry during the Dubai World Insurance Congress 2025 encompassed within the Future of Finance series Dubai, UAE; April 2025: Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, is currently hosting the largest ever gathering of insurance and reinsurance professionals at the Dubai World Insurance Congress. The event is welcoming 1,700 attendees from 82 countries, consolidating DIFC position as the only insurance and (re)insurance hub in the region. Over 6,000 deal-making meetings have been scheduled by attendees. Co-hosted by Global Reinsurance (GR), the Dubai World Insurance Congress attendance has grown from 1,300 delegates in 2024, with registrations closing a month before the event due to unprecedented demand. The event has been extended to three days and focusing on new trends in the industry including climate change, geographic updates, technological transformations, emerging risks, new ways of modelling risks and more. Reflecting the magnitude of insurance and (re)insurance business being undertaken in DIFC, during the opening session of the Dubai World Insurance Congress Alya AlZarouni, Chief Operating Officer at DIFC Authority announced the Centre recorded a 35 per cent leap in gross written premiums from USD 2.6bn to USD 3.5bn during 2024. During day one of the Congress, DIFC and its research partner Asia House, unveiled an exclusive report titled 'Embedding Resilience: Opportunities for the Global Insurance Industry' highlighting significant prospects for insurers and reinsurers as the sector seeks to narrow the gap between insured and uninsured assets, and ushering in much needed investment. Commenting on the report, and the contribution of DIFC's insurance sector to Dubai's economy, Arif Amiri, Chief Executive Officer of DIFC Authority commented: 'DIFC is well positioned to broaden and deepen its role as the region's leading insurance hub, thanks to its progressive and proportionate laws and regulations. DIFC's proven and stable environment for financial services firms and the UAE's visionary leadership have helped Dubai position itself as a strong base for insurance firms as evidenced through gross written premiums for 2024 surging by 35 per cent to reach a record high of USD 3.5bn. Over 125 insurance and reinsurance entities call DIFC their home, and we urge them to capitalise on the themes identified in our first-ever report on opportunities for the global insurance industry.' The report highlights that The USD 8trn global insurance industry is growing, spurred on by strong demand for its capacity to make economies and businesses more resilient to extreme weather events and cyberattacks, both of which are growing infrequency and severity. This boom is echoed in the Middle East, where the sector has been buoyed by a need for insurance to safeguard capital flows into the region's growing construction and energy mega-projects. The Middle East insurance sector is thriving and well-positioned to continue expanding on the back of heavy regional investment in mega tourism, retail and infrastructure projects aimed at diversifying economies away from fossil fuel production. Dubai, for example, was ranked first globally for greenfield foreign direct investment (FDI) projects in tourism in the first half of 2024. Consumer awareness in the region and uptake of insurance products is also growing. In part due to a favourable regulatory environment, Dubai International Financial Centre (DIFC) is attracting more captive insurers, InsurTechs, and building on its role as a global hub for managing general agents (MGAs). More MGAs will strengthen the local insurance market, increase choice of products, and widen the use of insurance. Insurers are exploring how artificial intelligence (AI) can streamline claims processing, customisation and distributing products and services. InsurTechs, once seen as a potential competitor, are shifting to collaboration with incumbents to mitigate regulatory and investment costs. Web3 and crypto assets, meanwhile, offer insurance growth opportunities as decentralised finance emerges as a key global finance trend. DIFC strives to fortify the insurance ecosystem through continuous engagement, transparent communications, access to timely data and scope to nurture talent and provide education. These are meaningful advantages that will encourage most insurers to recommend Dubai and DIFC as a global hub for insurance and reinsurance. About Dubai International Financial Centre: Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.
Zawya
28-04-2025
- Business
- Zawya
DIFC announces 35% leap in insurance business during largest ever Dubai World Insurance Congress
Centre announced 35% leap in insurance and (re)insurance business with Gross Written Premiums at USD 3.5bn generated by 125 insurance-related entities Launch of first ever report into the outlook for the global insurance industry during the Dubai World Insurance Congress 2025 encompassed within the Future of Finance series Dubai, UAE: Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, is currently hosting the largest ever gathering of insurance and reinsurance professionals at the Dubai World Insurance Congress. The event is welcoming 1,700 attendees from 82 countries, consolidating DIFC position as the only insurance and (re)insurance hub in the region. Over 6,000 deal-making meetings have been scheduled by attendees. Co-hosted by Global Reinsurance (GR), the Dubai World Insurance Congress attendance has grown from 1,300 delegates in 2024, with registrations closing a month before the event due to unprecedented demand. The event has been extended to three days and focusing on new trends in the industry including climate change, geographic updates, technological transformations, emerging risks, new ways of modelling risks and more. Reflecting the magnitude of insurance and (re)insurance business being undertaken in DIFC, during the opening session of the Dubai World Insurance Congress Alya AlZarouni, Chief Operating Officer at DIFC Authority announced the Centre recorded a 35 per cent leap in gross written premiums from USD 2.6bn to USD 3.5bn during 2024. During day one of the Congress, DIFC and its research partner Asia House, unveiled an exclusive report titled 'Embedding Resilience: Opportunities for the Global Insurance Industry' highlighting significant prospects for insurers and reinsurers as the sector seeks to narrow the gap between insured and uninsured assets, and ushering in much needed investment. Commenting on the report, and the contribution of DIFC's insurance sector to Dubai's economy, Arif Amiri, Chief Executive Officer of DIFC Authority commented: 'DIFC is well positioned to broaden and deepen its role as the region's leading insurance hub, thanks to its progressive and proportionate laws and regulations. DIFC's proven and stable environment for financial services firms and the UAE's visionary leadership have helped Dubai position itself as a strong base for insurance firms as evidenced through gross written premiums for 2024 surging by 35 per cent to reach a record high of USD 3.5bn. Over 125 insurance and reinsurance entities call DIFC their home, and we urge them to capitalise on the themes identified in our first-ever report on opportunities for the global insurance industry.' The report highlights that The USD 8trn global insurance industry is growing, spurred on by strong demand for its capacity to make economies and businesses more resilient to extreme weather events and cyberattacks, both of which are growing infrequency and severity. This boom is echoed in the Middle East, where the sector has been buoyed by a need for insurance to safeguard capital flows into the region's growing construction and energy mega-projects. The Middle East insurance sector is thriving and well-positioned to continue expanding on the back of heavy regional investment in mega tourism, retail and infrastructure projects aimed at diversifying economies away from fossil fuel production. Dubai, for example, was ranked first globally for greenfield foreign direct investment (FDI) projects in tourism in the first half of 2024. Consumer awareness in the region and uptake of insurance products is also growing. In part due to a favourable regulatory environment, Dubai International Financial Centre (DIFC) is attracting more captive insurers, InsurTechs, and building on its role as a global hub for managing general agents (MGAs). More MGAs will strengthen the local insurance market, increase choice of products, and widen the use of insurance. Insurers are exploring how artificial intelligence (AI) can streamline claims processing, customisation and distributing products and services. InsurTechs, once seen as a potential competitor, are shifting to collaboration with incumbents to mitigate regulatory and investment costs. Web3 and crypto assets, meanwhile, offer insurance growth opportunities as decentralised finance emerges as a key global finance trend. DIFC strives to fortify the insurance ecosystem through continuous engagement, transparent communications, access to timely data and scope to nurture talent and provide education. These are meaningful advantages that will encourage most insurers to recommend Dubai and DIFC as a global hub for insurance and reinsurance. About Dubai International Financial Centre Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.
Hi Dubai
28-04-2025
- Business
- Hi Dubai
DIFC announces 35% leap in insurance business during largest ever Dubai World Insurance Congress
DIFC welcomes 1,700 professionals from 82 countries to the largest ever Dubai World Insurance Congress Centre announced 35% leap in insurance and (re)insurance business with Gross Written Premiums at USD 3.5bn generated by 125 insurance-related entities Launch of the first-ever report into the outlook for the global insurance industry during the Dubai World Insurance Congress 2025, encompassed within the Future of Finance series Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, is currently hosting the largest ever gathering of insurance and reinsurance professionals at the Dubai World Insurance Congress. The event is welcoming 1,700 attendees from 82 countries, consolidating DIFC position as the only insurance and (re)insurance hub in the region. Over 6,000 deal-making meetings have been scheduled by attendees. Co-hosted by Global Reinsurance (GR), the Dubai World Insurance Congress attendance has grown from 1,300 delegates in 2024, with registrations closing a month before the event due to unprecedented demand. The event has been extended to three days and focusing on new trends in the industry including climate change, geographic updates, technological transformations, emerging risks, new ways of modelling risks and more. Reflecting the magnitude of insurance and (re)insurance business being undertaken in DIFC, during the opening session of the Dubai World Insurance Congress Alya AlZarouni, Chief Operating Officer at DIFC Authority announced the Centre recorded a 35 per cent leap in gross written premiums from USD 2.6bn to USD 3.5bn during 2024. During day one of the Congress, DIFC and its research partner Asia House, unveiled an exclusive report titled 'Embedding Resilience: Opportunities for the Global Insurance Industry' highlighting significant prospects for insurers and reinsurers as the sector seeks to narrow the gap between insured and uninsured assets, and ushering in much needed investment. Commenting on the report, and the contribution of DIFC's insurance sector to Dubai's economy, Arif Amiri, Chief Executive Officer of DIFC Authority, commented: DIFC is well positioned to broaden and deepen its role as the region's leading insurance hub, thanks to its progressive and proportionate laws and regulations. DIFC's proven and stable environment for financial services firms and the UAE's visionary leadership have helped Dubai position itself as a strong base for insurance firms as evidenced through gross written premiums for 2024 surging by 35 per cent to reach a record high of USD 3.5bn. Over 125 insurance and reinsurance entities call DIFC their home, and we urge them to capitalise on the themes identified in our first-ever report on opportunities for the global insurance industry. The report highlights that The USD 8trn global insurance industry is growing, spurred on by strong demand for its capacity to make economies and businesses more resilient to extreme weather events and cyberattacks, both of which are growing infrequency and severity. This boom is echoed in the Middle East, where the sector has been buoyed by a need for insurance to safeguard capital flows into the region's growing construction and energy mega-projects. The Middle East insurance sector is thriving and well-positioned to continue expanding on the back of heavy regional investment in mega tourism, retail and infrastructure projects aimed at diversifying economies away from fossil fuel production. Dubai, for example, was ranked first globally for greenfield foreign direct investment (FDI) projects in tourism in the first half of 2024. Consumer awareness in the region and uptake of insurance products is also growing. In part due to a favourable regulatory environment, Dubai International Financial Centre (DIFC) is attracting more captive insurers, InsurTechs, and building on its role as a global hub for managing general agents (MGAs). More MGAs will strengthen the local insurance market, increase choice of products, and widen the use of insurance. Insurers are exploring how artificial intelligence (AI) can streamline claims processing, customisation and distributing products and services. InsurTechs, once seen as a potential competitor, are shifting to collaboration with incumbents to mitigate regulatory and investment costs. Web3 and crypto assets, meanwhile, offer insurance growth opportunities as decentralised finance emerges as a key global finance trend. DIFC strives to fortify the insurance ecosystem through continuous engagement, transparent communications, access to timely data and scope to nurture talent and provide education. These are meaningful advantages that will encourage most insurers to recommend Dubai and DIFC as a global hub for insurance and reinsurance. The report can be accessed here. News Source: Burson
Zawya
27-03-2025
- Business
- Zawya
IMA Middle East and DIFC Academy form strategic alliance
Dubai, UAE – IMA® (Institute of Management Accountants) Middle East, the regional arm of the global association for accountants and financial professionals in business, and the DIFC Academy, the education center of Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, are proud to announce the successful completion of a series of workshops that have trained over 500 finance professionals in DIFC and beyond. These workshops represent the first tangible outcome of the Memorandum of Understanding (MoU), marking the beginning of a meaningful educational collaboration between the two organizations. Designed to enhance the skills and expertise of accounting and finance professionals, the sessions covered key topics such as strategic financial management, sustainability, and emerging industry trends. The programs have been extremely well received by participants, with many highlighting the opportunity to engage with experts in the profession. 'These workshops are a significant milestone in our partnership with DIFC Academy, and we are thrilled to see the positive impact they've had on more than 500 finance professionals,' said Ahmad Mkhallati, Senior Director of IMA Middle East, India, & Africa Operations. 'These workshops are just the first in a series of planned initiatives, all aimed at enhancing professional development across the region and ensuring finance professionals remain at the forefront of a rapidly evolving profession.' Alya AlZarouni, Chief Operating Officer at DIFC Authority and Head of the DIFC Academy, added, 'The success of these workshops underscores the potential of our partnership with IMA Middle East. The MoU signed last year laid the foundation for a robust collaboration, and we are excited to see it come to life with the launch of these training programs. We remain committed to expanding our educational offerings and empowering finance professionals in DIFC and across the region to drive meaningful economic growth.' Looking ahead, IMA Middle East and DIFC Academy are planning additional workshops and training initiatives designed to further develop the knowledge and capabilities of finance professionals across the MEASA region. Follow IMA Middle East and Africa on LinkedIn for more announcements on collaborative efforts. About IMA® (Institute of Management Accountants) IMA® is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant), CSCA® (Certified in Strategy and Competitive Analysis), and FMAA™ (Financial and Managerial Accounting Associate) certification programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 200+ professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its six global regions: The Americas, China, Europe, Middle East/North Africa, India, and Asia Pacific. For more information about IMA, please visit
