Transamerica Life Bermuda, a global high-net-worth (HNW) life insurer, has been granted a licence by the Dubai Financial Services Authority (DFSA) to establish a presence in Dubai International Financial Centre (DIFC).

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

With a heritage spanning almost 180 years through Aegon and Transamerica, Transamerica Life Bermuda brings significant experience in large sums assured and managing complex customer scenarios to the Middle East. 

Mr Salmaan Jaffery, chief business development officer at DIFC Authority, said, “Our progressive and pioneering laws and regulations continue to attract leading industry names to DIFC, which includes more than 125 insurance-related entities.”

Mr Adnan Ladki has been appointed as head of DIFC for Transamerica Life Bermuda.