HDI Global Receives License to Open Office in Dubai

HDI Global SE has received a regulatory license from Dubai Financial Services Authority (DFSA) to open an office in Dubai.

The new local presence in Dubai International Financial Centre (DIFC) will allow HDI Global to bring its global financial strength and technical expertise closer to clients in the Middle East, the company said.

The new Dubai office managing director, Willem van Wyk, brings over three decades of global insurance industry experience including senior leadership roles in the Middle East market and beyond.

Currently regional market manager ASEAN and Australasia, van Wyk has contributed to the significant profitable growth in the Asia Pacific portfolio working closely with teams in Australia, New Zealand, Singapore and Hong Kong branch offices since joining HDI Global in 2020.

Prior to joining the HDI global team, he held senior positions at AGCS, Marsh and Commercial Union, including as CEO AGCS in Dubai from 2016-2017. This followed his previous experience in the Middle East in the insurance industry, living there from 2001-2005.

HDI Global plans to commence its operations from DIFC in the third quarter of 2024 and will initially offer engineering, construction and property insurance products. Other functions and underwriting lines of business, including liability and marine, will be provided via HDI Singapore office, with the vision to transition to a fully integrated business in the medium term.

HDI Global also has made two additional appointments for the Dubai team. Riziq Ishaq has been appointed to lead the property underwriting line in Dubai, while John Morrell will lead construction and engineering.

Riziq Ishaq brings over 20 years of experience in the insurance industry, having worked with companies like Allianz, Zurich, and IGI. He has a proven track record in running profitable portfolios and possesses strong business development skills. With extensive expertise in portfolio steering and risk management, Ishaq’s rich professional history with direct, regional, and international insurance and reinsurance companies has equipped him with a vast network of relationships and significant underwriting expertise across the region.

John Morrell, currently underwriting manager engineering, Northern Region, in the Australian branch of HDI Global, relocated to Dubai end of June. He joined HDI Global in 2017 following his earlier engineering career and brings a strong background in managing large-scale infrastructure projects and a deep understanding of technical and industry requirements.

In line with the appointed underwriters, the focus will initially be the provision of property and engineering insurance solutions. As the business grows, additional lines of cover will be offered as part of the portfolio in Dubai, the company said.

“The Middle East continues to become a more important player in the global economy. The DIFC is a dynamic marketplace that provides growth opportunities for HDI now and in the future,” commented van Wyk of the HDI Global move to Dubai. “HDI is excited to bring A-rated capacity and a strong underwriting team to support brokers and clients in the DIFC.”

“Our clear goal will be to offer our clients and business partners innovative solutions, capital strength, stability, technical expertise, and reliable service – whether they operate internationally or solely in the Middle East. Thanks to our global network, we enable clients and brokers to operate worldwide with compliance and confidence,” said van Wyk.

“As part of the overall global vision and APAC growth strategy, Dubai is an exciting opportunity for us to move closer to this expanding market, strengthen our relationships with brokers and clients by providing solutions through a local team of underwriters, led by Willem van Wyk who has many years’ experience in the market,” according to David Hullin, member of the HDI Global board of management with responsibility for the international business.

“For brokers in the region, they will have local access to a long-term reliable partner with responsive claims, international programmes, and risk consulting capabilities for their clients,” Hullin added.

HDI Global SE is the Industrial Lines Division of the Talanx Group. The Dubai International Financial Centre (DIFC) is a leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated gross domestic product of US$8 trillion.

Source: HDI Global SE