UAE: Bermuda-based investment firm opens in Dubai
Source: Middle East Insurance Review | Nov 2015
Beechwood Bermuda International has launched a new subsidiary, Beechwood Bermuda Middle East (BBME), in Dubai to market and distribute its investment products in the UAE and other parts of the Middle East.
The Beechwood companies provide direct-written investment products to clients globally, and life, annuity, and long-term care reinsurance to primary insurance companies in the US and internationally.
Beechwood has hired Mr Mark Hollis, who previously served as Head of Bank Distribution at Standard Life (Dubai), as BBME’s Chief Executive. Prior to Standard Life, Mr Hollis held the role of Regional Director of the Middle East & Africa at both P2 International (Bermuda) and Old Mutual (Bermuda). He brings with him more than two decades of experience in the banking, finance and insurance markets.
Based in Beechwood’s office in Dubai, he will report to Mr David Lessing, a Beechwood Partner and EVP of Products & Solutions.
Mr Lessing said: “Our expansion into the UAE builds off our success in Latin America and Asia, where advisors and clients of leading wealth management firms have demonstrated significant and growing demand for our guaranteed investment products. We are confident the same demand exists in the Middle East for Beechwood’s attractive rates and unique monthly step-up features, coupled with the security of our guarantees and segregated account structures.”