Latest news with #MEASA
Zawya
3 days ago
- Business
- Zawya
Transamerica Life Bermuda expands global presence with a licence in Dubai International Finance Centre
Dubai – Transamerica Life Bermuda, the global high-net-worth (HNW) life insurer, has been granted a licence by the Dubai Financial Services Authority (DFSA) to establish a presence in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region. Kristine Ung, Chief Executive Officer at Transamerica Life Bermuda, stated: 'Our entry into DIFC marks a significant milestone in our global growth strategy. Securing this licence 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: 'We are delighted to welcome Transamerica Life Bermuda to DIFC. Our progressive and pioneering laws and regulations continue to attract leading industry names to DIFC, which includes more than 125 insurance related entities. As the region's only global hub for insurance and reinsurance, we look forward to working with Transamerica Life Bermuda to help them access the vast opportunities available from the Centre.' Building on a longstanding heritage With a heritage spanning almost 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. Adnan Ladki has been appointed as Head of DIFC for Transamerica Life Bermuda and will work closely with the leadership team to advance the companies ambitions for the region. Over 20 years, DIFC has steered development within the insurance and reinsurance industry, attracting talent and technical expertise to access key markets in the Middle East, Asia, and Africa region. DIFC, as a jurisdiction that is benchmarked against regulatory environments including London, Bermuda, and Hong Kong, inspires confidence for reinsurers, reinsurance brokers, and MGAs to set up their operations.' DIFC is home to renowned insurance brokers, five of whom are among the top ranked entities by AM Best. Home to the region's broadest and deepest financial ecosystem, DIFC announced record-breaking growth in 2024 with a total of 6,920 active companies, with unparallelled financial performance. DIFC is also home to a range of world-class insurance brokers, five of whom are among the top ranked entities by AM Best. Driving thought leadership and initiating networking and discussion within these industries, the Centre continues to co-host the Dubai World Insurance Congress, a forum that gathers over 1700 senior leadership from over 82 countries, to tackle key issues impacting the industry. About Transamerica Life Bermuda Transamerica Life (Bermuda) Ltd. (Transamerica Life Bermuda) is a leading insurer specialising in high-net-worth (HNW) life insurance solutions with extensive experience in underwriting large sums assured and managing complex customer scenarios to support legacy and business planning for HNW individuals and families. We are committed to helping our customers achieve their financial goals and safeguard wealth for future generations. With a heritage spanning almost 180 years through Aegon and Transamerica, we have accumulated significant experience and knowledge in global life insurance. Transamerica Life Bermuda is incorporated in Bermuda with branches in Hong Kong and Singapore, and a representative office in the Dubai International Financial Centre. Learn more at We are part of Aegon, an international financial services holding company. Aegon's ambition is to build leading businesses that offer customers investment, protection, and retirement solutions, united by one single purpose: Helping people live their best lives. 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. For further information, please visit our website: or follow us on LinkedIn and X @DIFC. Media enquiries: Transamerica Life Bermuda – Hong Kong Catherine Tse Singapore Mark Pufpaff (Paradigm Consulting) Dubai International Financial Centre Authority – Dubai, United Arab Emirates Rasha Mezher
Khaleej Times
3 days ago
- Business
- Khaleej Times
Spark Capital expands global reach with new DIFC office
Spark Capital Private Wealth Management (Spark Capital PWM) has launched its operations in the Dubai International Financial Centre (DIFC), the premier financial hub for the Middle East, Africa, and South Asia (MEASA) region, through its subsidiary, Spark Global PWM Private Limited. This move enhances Spark Capital's ability to connect global investors with diverse markets, offering tailored wealth management solutions and reinforcing DIFC's position as an unmatched ecosystem for financial innovation, he company said in a statement. The DIFC's exceptional environment, with its robust regulatory framework and access to a vast network of financial institutions, makes it an ideal base for Spark Capital PWM. The centre hosts 420 wealth and asset management firms, including 75 pure-play hedge funds, 48 of which manage assets exceeding Rs 8,300 crore each. This vibrant ecosystem enables firms to tap into regional opportunities, serving as a gateway to financial institutions and multinational companies across the MEASA region. DIFC's strategic location, bridging Asia, Europe, and the Americas, further amplifies its appeal for wealth managers like Spark Capital PWM, fostering seamless access to global markets. Spark Capital PWM's expansion into DIFC underscores its rapid growth. The firm's assets under management and advisement have surged nearly tenfold, from Rs30 billion in April 2023 to Rs300 billion by May 2025. Its team has grown from 60 to over 400 professionals, including 130+ experienced relationship managers, with a presence across 12 Indian cities. The DIFC office, staffed by seasoned wealth management experts, will leverage Spark Capital's research capabilities and innovative strategies to deliver bespoke solutions, catering to the needs of international clients seeking portfolio diversification and wealth preservation. Arpita Vinay, senior managing director & co-CEO of Spark Capital PWM, said, 'Our DIFC office marks a pivotal step in our global strategy. Dubai's strategic location and DIFC's world-class infrastructure provide the perfect platform to connect investors with diverse opportunities, enhancing our ability to deliver value to clients worldwide.' Neeraj Ojha, senior executive officer of Spark Global PWM Private Limited, added, 'DIFC's exceptional ecosystem, with its top-tier regulatory standards and extensive financial network, empowers us to offer sophisticated wealth solutions backed by Spark Capital's expertise.'
Zawya
19-05-2025
- Business
- Zawya
DIFC and IPEM join forces to advance the global private markets ecosystem in Dubai
Partnership supports DIFC's Strategy 2030 to position Dubai among the leading global financial centres Dubai, UAE: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, continues to solidify its role as a global hub for long-term capital deployment by signing an agreement at the Dubai FinTech Summit with the International Private Equity Market (IPEM), the premier relationship broker for private equity. IPEM events are the definitive meeting place for decision-makers, innovators, and investors shaping the future of private markets. Dubai will complement the current bi-annual IPEM gatherings held in France. IPEM Future will strive to create an immersive experience that allows attendees to gain insights, develop relationships, and engage with the wider private equity community. The IPEM partnership reinforces DIFC's position as a world-class ecosystem and platform for private equity markets. Ranked number one in the region in the latest edition of the Global Financial Centre Index (GFCI) rankings, Dubai is categorised by the GFCI as only one of eight cities in the world to be a global leader with 'broad and deep' capabilities across all parts of the finance industry, alongside cities including London, New York and Paris. Arif Amiri, Chief Executive Officer, DIFC Authority, commented: 'The current global economic environment has amplified investor appetite for private capital, often viewed as resilient, long-term, and less susceptible to short-term market risks. The partnership with IPEM spotlights Dubai and DIFC as a global destination for long-term capital deployment and aligns with our vision to drive the future of finance and position Dubai among the world's leading global financial centres in the world.' Antoine Colson, CEO, IPEM, said: 'Dubai is a global hub for creative and transformative capital — a natural home for 'IPEM Future'. This new event brings together the boldest LPs and GPs backing breakthroughs in AI, climate tech, longevity, space, and more. It is where private capital does not just perform - it transforms.' Ahead of its Dubai event in December, IPEM brought representatives from the global private capital industry to Dubai FinTech Summit for an introductory visit and participation in an especially curated event. Investors and companies that support the private markets ecosystem discussed using private markets to create long-term value; the role of innovation and technology; the changing investor landscape; and the growing importance of the Middle East. About IPEM – International Private Equity Market IPEM serves to connect global private capital industry leaders, investors, advisors, and service providers. Our international events are held annually in Paris - IPEM Global, the premier summit for global private capital leaders with 6,000+ participants from around the world; in Cannes - IPEM Wealth, focused on the wealth revolution and welcoming nearly 4,000 participants; and, starting in 2025, in Dubai with the launch of IPEM Future — exclusive access to UAE investment leaders shaping tomorrow's capital landscape. Additionally, IPEM hosts regional events in partnership with local stakeholders in Chicago, Abu Dhabi, and China, while actively exploring opportunities in Latin America, Japan, and more — a reflection of the industry's exciting global expansion and democratization. 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
16-05-2025
- Business
- Zawya
China's CICC expands its global footprint with official launch of DIFC branch
DUBAI - China International Capital Corporation Limited (CICC), China's leading investment bank, officially launches its branch in Dubai, International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA). The new branch operates under China International Capital Corporation Hong Kong Securities Limited (Trade name: CICC (DIFC Branch)) (CICC DIFC Branch), holds a Category 4 licence and is regulated by the Dubai Financial Services Authority (DFSA). DIFC is a strategic gateway for the region for Chinese financial institutions and multinational firms. The biggest names in the Chinese banking and financial services industry have made their presence in DIFC, out of which 30 per cent are Fortune 500 companies. As economic ties expand between the UAE and China, DIFC is committed to offering a well-developed platform that will help Chinese business expand and scale within the Middle East, Africa and South Asia region. Dubai's specific plans for the adoption of artificial intelligence in every sector with the support of the DIFC's Dubai AI Campus is synergistic with China's advanced research and technology development capabilities. Essa Kazim, Governor of DIFC, said, 'We are delighted to welcome CICC to DIFC, bolstering the strategic relations between the UAE and China. Dubai and DIFC remain a top destination for Chinese investments, further accentuated by a surge in interest from banks, wealth and asset management firms, large corporations, and insurance sector market players. It underscores our commitment to offer a vast, well-developed ecosystem to help Chinese businesses expand and scale within the Middle East, Africa and South Asia region, strengthening DIFC's position in shaping the future of finance and boosting excellence in innovation.' 'The opening of the CICC DIFC Branch marks a significant milestone in our international expansion strategy. CICC remains committed to delivering innovative financial solutions that facilitate cross-border capital flows and foster deeper economic ties between China and key global markets. From the UAE, a key gateway for the Gulf region, we will build tailored solutions to serve regional clients 'evolving needs' while supporting Chinese enterprises seeking strategic opportunities abroad, contributing financial momentum to the high-quality development of the Belt and Road Initiative," Chen Liang, Chairman of CICC, said. With Chinese roots and international reach, CICC is committed to providing high-quality and value–added financial services to a diversified set of clients, building up a balanced, full-service model based on research and information technology that empowers investment banking, equities, FICC (Fixed Income, Currencies and Commodities), asset management, private equity, and wealth management businesses. Since its inception, CICC has been at the forefront of China's capital market development, integrating international best practices with local expertise. CICC has actively expanded into global markets, establishing offices in major financial centres such as Hong Kong SAR, New York, London, Singapore, Frankfurt, and Tokyo, reinforcing its international reach. With the launch of the CICC DIFC Branch, the firm is committed to becoming the premier two-way investment banking gateway between China and the Gulf region, leveraging its expertise in facilitating capital flows, structuring cross-border investments and advising on strategic opportunities. The branch will work closely with sovereign wealth funds, financial institutions, major corporations and other partners to help them actively participate in China's capital market projects and strengthen business collaboration between China and the broader Gulf region.
Gulf Business
16-05-2025
- Business
- Gulf Business
Chinese investment bank CICC opens branch in Dubai's DIFC
Image: Dubai Media Office Investment bank China International Capital Corporation (CICC) has officially launched its branch at Dubai International Financial Centre (DIFC), strengthening China's financial presence in the Middle East, Africa, and South Asia (MEASA) region. Operating under China International Capital Corporation Hong Kong Securities and trading as CICC (DIFC Branch ) , the new office holds a category 4 license and is regulated by the Dubai Financial Services Authority (DFSA). CICC's entry into Currently, around 30 per cent of Chinese firms operating in DIFC are Fortune 500 companies. Dubai a top destination for Chinese investments 'Dubai and DIFC remain a top destination for Chinese investments, further accentuated by a surge in interest from banks, wealth and asset management firms, large corporations, and insurance sector market players,' said Essa Kazim, governor of DIFC. 'We are delighted to welcome CICC to DIFC, bolstering the strategic relations between the UAE and China.' Kazim added that DIFC provides a well-developed ecosystem designed to support Chinese businesses looking to scale across MEASA, and pointed to growing synergies between China's strengths in research and technology and Dubai's ambition to lead in artificial intelligence through initiatives such as the Dubai AI Campus. Chen Liang, chairman of From UAE, a key gateway for the Gulf region, we will build tailored solutions to serve regional clients' evolving needs while supporting Chinese enterprises seeking strategic opportunities abroad,' he added. CICC to enable two-way investment banking gateway CICC is positioning the new Dubai branch as a premier two-way investment banking gateway between China and the Gulf region. The bank plans to work closely with sovereign wealth funds, financial institutions, and major corporations to structure cross-border investments and facilitate greater participation in China's capital market projects. Founded as China's first joint venture investment bank, CICC has been instrumental in the development of China's capital markets. It combines global best practices with deep local expertise across investment banking, asset management, FICC (fixed income, currencies, and commodities), wealth management, and private equity. It operates globally through offices in Hong Kong SAR, New York, London, Singapore, Frankfurt, and Tokyo. With the DIFC launch, CICC is seeking to deepen financial ties under China's Belt and Road Initiative, while expanding its influence in the region's financial services ecosystem.
