Latest news with #TransamericaLifeBermuda
Hi Dubai
a day ago
- Business
- Hi Dubai
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
Zawya
a day ago
- Business
- Zawya
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.
Arabian Business
4 days ago
- Business
- Arabian Business
Dubai grants DIFC licence for Transamerica Life Bermuda as it boosts insurance for HNWI
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). Kristine Ung, CEO at Transamerica Life Bermuda, said: '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, said: '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. Transamerica Life Bermuda in Dubai '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.' 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. He said: '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.
Zawya
6 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
