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HDI Global SE has been granted a regulatory license by the Dubai Financial Services Authority (DFSA) to establish a new office in Dubai International Financial Centre (DIFC). This strategic move is a key part of HDI Global’s expansion efforts in the Asia Pacific and Middle East regions.
The new Dubai office will enable HDI Global to leverage its global financial strength and technical expertise to better serve clients in the Middle East. Willem van Wyk, the newly appointed Managing Director for the Dubai office, brings over 30 years of experience in the global insurance industry, including significant roles in the Middle East. Van Wyk, currently Regional Market Manager for ASEAN and Australasia, has played a crucial role in expanding HDI Global’s presence in the Asia Pacific region since joining the company in 2020. His previous roles include CEO at AGCS in Dubai and senior positions at Marsh and Commercial Union.
A Growing Market
“The Middle East is increasingly influential in the global economy. The DIFC provides a dynamic environment with growth opportunities for HDI, both now and in the future,” says van Wyk. “We are excited to offer our A-rated capacity and strong underwriting team to support brokers and clients in the DIFC. With our global capabilities and technical expertise, we are well-positioned to help clients transition to the future economy.”
The establishment of the Dubai office reflects HDI Global’s successful business development strategy and aligns with its global vision. “Dubai represents a significant opportunity for us to strengthen our presence in this expanding market. By positioning ourselves locally, we can enhance our relationships with brokers and clients and offer tailored solutions through our experienced team led by Willem van Wyk,” says David Hullin, a member of the HDI Global board of management responsible for international business.
Regional Impact
Arif Amiri, Chief Executive Officer of DIFC Authority, welcomed HDI Global’s entry into DIFC, noting, “As the largest financial centre in the region with over 42,000 people, DIFC continues to enhance its ecosystem. With over 100 registered insurers and insurance-related entities, DIFC provides a robust platform for growth. Our world-class regulations support these companies in capturing new opportunities and contributing to the future of finance.”
HDI Global plans to begin operations in DIFC in the third quarter of 2024, focusing initially on engineering, construction, and property insurance products. Riziq Ishaq will head the property underwriting line, and John Morrell will lead the construction and engineering sectors.
As the Dubai business develops, HDI Global aims to expand its range of insurance solutions. “Our goal is to deliver innovative solutions, capital strength, stability, and reliable service to our clients and partners, whether they operate internationally or within the Middle East. Our global network enables us to offer compliance and confidence to clients and brokers worldwide,” van Wyk adds.
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