Swiss Life celebrates its first year in business in the Middle East

The anniversary event was attended by around 50 business partners from leading private banks and asset managers who cooperate with Swiss Life to sell its products to an internationally oriented clientele.

High networth individuals based in the Middle East are increasingly interested in internationally oriented wealth management solutions, which makes Dubai an interesting base from which to tap into the continuing growth of wealth in the region. The creation of Swiss Life's insurance intermediation office was a response to this need: the product portfolio comprises customised concepts for Private Placement Life Insurance (PPLI), integrating wealth management with high-end life insurance.

The products are tailored to the demands of an internationally oriented private clientele. Swiss Life is cooperating with leading private banks and independent asset managers to sell these products.

The anniversary event took place on 11 November and was attended by Gerhard Bruegger, Swiss Consul General as well as over 50 business partners from leading private banks and asset managers. Ivo Furrer, member of Swiss Life's Corporate Executive Board has given a speech on trends in insurance as wealth management tool and explained why life insurance is currently gaining momentum. Peter Traber, General Manager in Dubai and Jamie McNish, Regional Sales Director have spoken about the achievements of Swiss Life in Dubai in the last year.

Peter Huber, CEO Private Placement Life Insurance:

"In spite of the financial crisis we can state that with the Dubai office we are ideally positioned to meet the requirements of international high networth individuals. The insurance density is still low in the market. A fact that enables us to position ourselves as an exclusive partner for customised life insurance and to further exploit our growth potential."

The majority of Swiss Life's staff in Dubai are from the Middle East, enabling the company to respond appropriately to the linguistic and cultural diversity of its clients.