Asia Capital Re launches in Dubai
Asia Capital Reinsurance Group (Asia Capital Re) has opened a branch office in the Dubai International Financial Centre (DIFC). It says strong economic growth in the Middle East combined with substantial investments in infrastructure in the region means many opportunities for reinsurers.
“The economic growth in the Middle East has spurred governments across the region to proactively support investments in the infrastructure, commercial and residential property sectors,” said Dr Reto Brosi, principal officer of Asia Capital Re.
“We see tremendous corresponding opportunities for the (re)insurance sector to support this burgeoning growth. As a major economic centre in the region, Dubai is strategically located for Asia Capital Re to better service our expanding client base across the Middle East with our unparalleled combination of international underwriting expertise and deep local insight of the region’s risk exposures and business culture.”
The office will be Asia Capital Re’s second branch office after Hong Kong. It has appointed Rainer Lehner as senior executive officer of the new branch office. Lehner has almost 15 years’ experience in the (re)insurance industry, having previously worked for Swiss Re and JLT Risk Solutions. Most recently, he was head of underwriting of ACR Re Takaful MEA, an associated company of Asia Capital Re.
“Supported by colleagues in our Singapore headquarters, our Dubai Branch Office offers full-fledged underwriting capabilities for facultative and treaty businesses including property, energy and engineering lines,” Lehner said.
“It also provides dedicated support in risk engineering, capital relief solutions, enterprise risk management, actuarial services and underwriting. Having a physical presence in the Middle East also allows us to respond even more quickly and be closer to our valued business partners. I am very excited to be at the forefront of serving our clients in the Middle East.”