UAE: Berkshire Hathaway Specialty Insurance opens office in DIFC
Source: Middle East Insurance Review | Mar 2018
Berkshire Hathaway Specialty Insurance Company (BHSI) said it has received its insurance licence from the Dubai Financial Services Authority to establish an office in the DIFC.
The office will provide a suite of specialty and commercial (re)insurance products to BHSI’s network of brokers and ceding companies with a focus on construction, energy, property, marine, casualty and executive and professional lines.
The company has named Mr Alessandro Cerase as its Senior Executive Officer (SEO) and Mr Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East.
In addition, Mr Cerase will be leading First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as its operations in Malaysia and Macau.
Mr Cerase has 20 years of global experience spanning both the engineering and underwriting aspects of the insurance business. He was most recently Global Head of Energy and Engineered Risk at AIG.
Mr Yadvendu joins BHSI after two decades in the insurance industry, most recently as Regional Head of Casualty and Financial Lines at AXA Asia.
“We are excited to expand BHSI’s footprint in this region which will service those markets in the Middle East and beyond who seek (re)insurance support in the DIFC. The strategic location of Dubai as well as the stability and efficiency of the DIFC make it an ideal hub for BHSI to support economic growth in the region. Our operation in the DIFC will bring BHSI’s financial strength, and underwriting and claims excellence to the region.” said Mr Marc Breuil, President of Asia Middle East, BHSI. M