Patrick Holcroft, Group Chief Executive, said:
"We are delighted by the welcome we have received from the DIFC and see this as an exciting opportunity for the Group. Today's news further highlights our strategy of developing our international activities in areas where we have specialist expertise. Given the rapid growth in the Middle East, we feel it is the ideal time to expand our presence and we are looking forward to further strengthening our connections in the region."
An established broker in the area for more than two decades, RFIB already handles significant levels of marine and non-marine business in the Middle East. The creation of a permanent local presence in the form of a representative office marks an important next step for the group.
Dr Omar Bin Sulaiman, Director General of DIFC Authority, commented, "We are pleased that established companies such as RFIB are increasingly attracted to the region and in particular, DIFC. The addition of RFIB with their exemplary record for providing all
classes of insurance, reinsurance and risk management solutions will prove invaluable as the DIFC continues to expand its membership base."
The Dubai office will be headed by former British Ambassador to the United Arab Emirates, Mr Anthony Harris. Mr Harris has also worked directly in various Middle East markets since the late 1990s and is a former Director in the Middle East Corporate Finance Department of banking group, Robert Fleming.
Posted by Anne-Birte Stensgaard, Senior News Editor
