Zurich's Global Corporate division launches in Middle East

The launch will allow Zurich Insurance Company Limited, DIFC branch (ZIC Ltd. DIFC) to focus on growing its Global Corporate segment in the Middle East and working with local insurers in the region on facultative reinsurance in areas such as energy, construction, large property and casualty, marine, directors and officers and professional indemnity.

ZIC Ltd. DIFC will be led by Saad Mered the Chief Executive Officer (CEO) Zurich Middle East, and will focus on the Global Corporate segment in the region.

Saad Mered, CEO Zurich Middle East, said:

"The demand for general insurance from major companies in the Middle East is strong and we are glad to have secured a general insurance licence in this under-penetrated market where we can address the risk management needs of multinational corporations. ZIC's role will be to focus on lead underwriting expertise, risk engineering services and claims management in close cooperation with our local insurance company partners and reinsurance brokers. As a leading global insurer our aim is to keep our customers and partners up-to-date on issues including best practice for risk management, trends in the market, the impact of legislative changes and learning from claims."

Operating in the region since 1986, Zurich has had a large presence in DIFC for nearly four years, beginning with its life insurance business and now general insurance. Over the next two to three years ZIC Ltd. DIFC branch plans to continue to build on the strong presence it has in the market by leveraging its brand and fundamental strengths in areas of product, customer and distribution excellence.

Saad Mered continues, "The Middle East is an important region of growth for the Group and we will continue to consolidate our position in this market as one of the top 3 global leaders whilst developing our general insurance business. We are already addressing one of the industry's key issues - expertise. Historically, experts resided outside. We are now rebalancing this equation and will shortly announce our specialist appointments."