The Bermuda-based Argo Group International Holdings announced that it has established a “locally domiciled insurance operation in the heart of the Dubai International Financial Center (DIFC).”
The new company – Argo Re (DIFC) Ltd. – is a subsidiary of Argo Re, Ltd. in Bermuda. It is a “fully licensed insurance manager and intermediary in Dubai,” which will “serve as Argo Group’s hub for the Middle East and North Africa (MENA) Region.”
The new facility will “focus initially on casualty, professional and financial lines insurance. Regional Chief Underwriting Officer Lina Hantas and Casualty Underwriting Manager Samir Hemsi will be leading the operation,” said the announcement.
Hantas will be responsible for building, developing and underwriting the liability book of business for Argo in the Middle East & North Africa region. She has worked in the insurance sector since 2003 and has a wide array of experience in liability in the MENA Region.
Hemsi will be responsible for building, developing and underwriting the professional liability and casualty book of business for Argo in Dubai and Jordan. He has worked in the insurance sector in the region since 2004 with experience in professional liability, casualty and property insurance.
‘A presence in the MENA market is a key component of our international expansion strategy,’ explained Argo Group CEO Mark E. Watson III. ‘Dubai represents one of the world’s fastest growing global financial centers and a local presence there serves to enhance the scale, flexibility and value we offer to our customers.’
Argo Re Chief Underwriting Officer Nigel Mortimer commented: ‘Combine our strong financial rating with the best-in-class team we’ve hired, add the ability to leverage our global platform, and you have a unique franchise – one which can protect our clients and their exposures so that they can focus on building strong businesses in this dynamic and evolving legal environment.’
The product suite Argo Group will offer in the MENA Region will consist of a broad range of casualty, professional and financial lines coverages, including major construction projects and energy risks.
The establishment of a presence in Dubai is the latest international business center set by Argo. The group opened offices in Paris and Sao Paulo earlier this year.
Source: ARGO Group International
Topics Casualty
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