Middle East - UAE: PartnerRe set up at DIFC
Source: Middle East Insurance Review | Feb 2016
PartnerRe’s subsidiary, Partner Reinsurance Europe, has been granted a licence by the Dubai Financial Services Authority to operate as an authorised firm in the DIFC, effective 16 December 2015.
PartnerRe’s branch office in the DIFC will focus on providing regional facultative support in property and construction lines to clients based in the Middle East region, said the reinsurer in a statement. Underwriting operations from the DIFC office began on 1 January.
PartnerRe is the third Bermudan player in recent months to set up operations in Dubai, following AXIS Capital and Qatar Re, which announced the receipt of their licences last December. Mr John Ramesh has been appointed Senior Executive Officer of the PartnerRe’s Dubai branch.