HDI Global gets Dubai licence
HDI Global SE had received a regulatory license from Dubai Financial Services Authority (DFSA) to open an office in Dubai.
The company said that the new local presence in Dubai International Financial Centre (DIFC) will allow HDI Global to bring its global financial strength and technical expertise closer to clients in the Middle East. The new Dubai office Managing Director, Willem van Wyk, brings over three decades of global insurance industry experience including senior leadership roles in the Middle East market and beyond.
van Wyk has worked closely with teams in Australia, New Zealand, Singapore and Hong Kong branch offices since joining HDI Global in 2020. Prior to joining the HDI Global team, he held senior positions at AGCS, Marsh and Commercial Union, including as chief executive AGCS in Dubai from 2016-17. This followed his previous experience in the Middle East in the insurance industry, living there from 2001-05.
“The Middle East continues to become a more important player in the global economy. The DIFC is a dynamic marketplace that provides growth opportunities for HDI now and in the future,” said van Wyk. “HDI is excited to bring A-rated capacity and a strong underwriting team to support brokers and clients in the DIFC. As a Partner in Transformation we are confident with our global capabilities and technical expertise that HDI can support our clients in their transition to the economy of the future."
The Dubai office of HDI Global is part of a logical progression of the industrial insurer’s successful business development in the Asia Pacific and Middle East region, the firm said. “As part of the overall global vision and APAC growth strategy, Dubai is an exciting opportunity for us to move closer to this expanding market, strengthen our relationships with brokers and clients by providing solutions through a local team of underwriters, led by Willem van Wyk who has many years’ experience in the market,” said David Hullin, member of the HDI Global board of management with responsibility for the international business. He continues: “HDI Global’s move demonstrates our successful business development and supports our global vision to be the Partner in Transformation for our clients. For brokers in the region, they will have local access to a long-term reliable partner with responsive claims, international programmes, and risk consulting capabilities for their clients. I wish Willem and the entire team in Dubai every success."
HDI Global plans to commence its operations from DIFC in the third quarter of 2024 and will initially offer engineering, construction and property insurance products. Riziq Ishaq has been appointed to lead the property underwriting line, and John Morrell will lead construction and engineering.
HDI said that in line with the appointed underwriters, the focus will initially be the provision of property and engineering insurance solutions. As the business grows, additional lines of cover will be offered as part of the portfolio in Dubai. "Our clear goal will be to offer our clients and business partners innovative solutions, capital strength, stability, technical expertise, and reliable service – whether they operate internationally or solely in the Middle East. Thanks to our global network, we enable clients and brokers to operate worldwide with compliance and confidence,” said van Wyk.
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