Transamerica Life Bermuda secures license to operate in Dubai

Transamerica Life Bermuda, the global high-net-worth life insurer, has been granted a license by the Dubai Financial Services Authority to establish a presence in Dubai International Financial Centre, the “leading” global financial centre in the Middle East, Africa, and South Asia.

Adnan Ladki has been appointed as Head of DIFC for Transamerica Life Bermuda and will work with the leadership team to advance the companies ambitions for the region.

“Our entry into the DIFC marks a significant milestone in our global growth strategy. Securing this license will allow us to support our distribution partners in the Middle East, which is becoming a vital international financial and wealth management hub.” – Kristine Ung, Chief Executive Officer at Transamerica Life Bermuda.

“We are delighted to welcome Transamerica Life Bermuda to DIFC. Our progressive and pioneering laws and regulations continue to attract leading industry names to DIFC, which includes more than 125 insurance related entities. As the region’s only global hub for insurance and reinsurance, we look forward to working with Transamerica Life Bermuda to help them access the vast opportunities available from the Centre.” – Salmaan Jaffery, Chief Business Development Officer of DIFC Authority.