Markel receives Dubai approval

Specialist insurer Markel has received approval by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC).

Markel is based within the DIFC and will relocate to the Lloyd’s office when it is launched in March 2015.

The trade credit operation specialises in writing business from around the region and offers e non-payment credit and contract frustration covers.

Leroy Almeida is set to head up the office. Previously, Almeida worked as senior business development manager with Atradius' cooperation partners in the UAE since 2005.

Ewa Rose, managing director of Markel’s trade credit division, said: “We are delighted now to have our DFSA approval and with our fully resourced office are looking forward to launching the business as we move into 2015. We are already encouraged by local interest in our product offering. Our team is actively involved in developing business opportunities in the Middle Eastern region, where our presence builds on our established bases in London, Singapore and New York.”