Hannover-headquartered HDI Global SE continues its international expansion, receiving a regulatory licence from Dubai Financial Services Authority (DFSA) to open an office in Dubai.
The new local presence in Dubai International Financial Centre (DIFC) will allow HDI Global to bring its global financial strength and technical expertise closer to clients in the Middle East, the German global insurer said in a statement.
Dubai office managing director Willem van Wyk has over three decades of global insurance industry experience including senior leadership roles in the Middle East market and beyond. Currently, regional market manager — ASEAN and Australasia, Mr van Wyk has contributed to the significant profitable growth in the Asia Pacific portfolio working closely with teams in Australia, New Zealand, Singapore and Hong Kong branch offices since joining HDI Global in 2020, said the insurer.
Before joining the HDI Global team, he held senior positions at AGCS, Marsh and Commercial Union, including as CEO AGCS in Dubai from 2016-17. This followed his previous experience in the Middle East in the insurance industry, living there from 2001-05.
Commenting on the establishment of the DIFC office, Mr van Wyk said, “The Middle East continues to become a more important player in the global economy. The DIFC is a dynamic marketplace that provides growth opportunities for HDI now and in the future.”
HDI Global plans to commence its operations from DIFC in the third quarter of 2024 and will initially offer engineering, construction, and property insurance products. As the business grows, additional lines of cover will be offered as part of the portfolio in Dubai. Mr Riziq Ishaq has been appointed to lead the property underwriting line, and Mr John Morrell will lead construction and engineering.
The Dubai office of HDI Global is part of a logical progression of the industrial insurer’s successful business development in the Asia Pacific and Middle East region.
Mr David Hullin, a member of the HDI Global board of management with responsibility for the international business, said, “As part of the overall global vision and APAC growth strategy, Dubai is an exciting opportunity for us to move closer to this expanding market, strengthen our relationships with brokers and clients by providing solutions through a local team of underwriters, led by Willem van Wyk who has many years’ experience in the market.”