UAE: New India Assurance to open office in DIFC
Source: Middle East Insurance Review | Jul 2015
New India Assurance (NIA) has announced that it will open its regional hub in the Dubai International Financial Centre (DIFC) to serve as the company’s administrative control headquarters for its operations across the GCC.
The DIFC office will act as a single point of contact for Indian businessmen and entrepreneurs moving into the GCC, apart from business entities which are based in the region and are involved in the execution of various projects, said Mr Sanath Kumar, Director and General Manager of NIA.
“The DIFC office will instil confidence and offer a seamless channel of communication to our customers, particularly to those Indian businessmen who have GCC interests. Most of these entrepreneurs are our own customers and opening the DIFC office will help us carry forward the confidence they have in us to the GCC,” he was quoted by Gulf News as saying.
Mr Kumar said that the new office will house a claims settlement centre. “Some of the claims pertaining to this region can be settled here rather than going all the way back to India,” he said.
NIA started its UAE operations in 1961. It has five branches in the GCC — two in the UAE, and one office each in Oman, Kuwait and Bahrain. The GCC business recorded gross premiums of AED642 million (US$175 million) for the financial year ended 31 March 2015, compared to AED631 million for the previous year.
Apart from the GCC, NIA has a presence in 27 countries globally.
AED1 = US$0.27