US Insurance giant Berkshire Hathaway’s specialty operation is to open a new office in Dubai as it targets MENA business
Berkshire Hathaway Specialty Insurance (BHSI) confirmed today that it has received its insurance licence from the Dubai Financial Services Authority and established an office in the Dubai International Financial Centre (DIFC).
Following the licence, the firm has announced Alessandro Cerase will be the operation’s Senior Executive Officer (SEO) and the appointment of 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.
“We are excited to expand BHSI’s footprint in this region which will service those markets in the Middle East and beyond who seek reinsurance support in the DIFC,” said Marc Breuil, President of Asia Middle East, BHSI. “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.”
BHSI will provide a broad range of specialty and commercial re/insurance products to its network of brokers and ceding companies with a focus on construction, energy, property, marine, casualty and executive and professional lines.