Dubai International Financial Centre (DIFC), an international financial hub in the Middle East, Africa and South Asia (MEASA) region, has announced sustained performance in the reinsurance sector.
The sector grew by 17.4 percent in 2019, representing the highest volume of premiums ever written in the market, further reinforcing the center’s position as the leading reinsurance hub in the region. The DIFC confirmed that gross written premiums (GWP) for Q1 2020 reached $472 million, on par with the same period during Q1 2019, reflecting continued industry stability and resilience.
The premiums cover different areas including marine, aviation, transport, health, property damage and liability, alongside other sectors. DIFC is now home to more than 100 registered insurance, reinsurance, captive firms and insurance-related entities serving the market, including three of the top five global insurance companies.
The center has attracted global companies including Munich Re, Lloyd’s, Berkshire Hathaway Specialty, RGA, Korean Re, AIG, Zurich, Marsh, and AON.
