Bermuda-based Lancashire Holdings Limited said it plans to establish an office in Dubai, establishing a brokerage center there.
The insurer said it intends to incorporate a subsidiary in the Dubai International Financial Centre (DIFC), an economic development zone created by the government for foreign businesses, and submit an application to the Dubai Financial Services Authority (DFSA) to seek status for the new subsidiary as an authorized insurance intermediation firm.
Lancashire said the new company would allow it to market its United Kingdom and Bermuda insurance subsidiaries more effectively and efficiently in the region.
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