DIFC Governor hosts Lord LevenePress Release 27 Feb 2007 04:11 pm
- Visit highlights the strong relations between Dubai and the City of London
His Excellency Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC), today welcomed Lord Levene of Portsoken, Chairman of Lloyd's of London, and James Sutherland, Head of Operations, Business Development Directorate at Lloyd’s, to the region. The visit follows that of the Right Honourable Lord Mayor of the City of London, Alderman John Stuttard, earlier in the month. The visit by two key figures from the City of London highlights the growing importance of Dubai as a financial hub, and underpins the strength of relationship between two vibrant investment capitals, London and Dubai.
Lloyd’s is the world’s leading, specialist insurance market, with its roots dating back to the 17th century. Lloyd’s covers the world’s most complex and specialist risks from oil rigs and major airlines to the world’s biggest banks.
His Excellency Dr. Omar Bin Sulaiman, Governor, DIFC, commented on Lord Levene’s visit: “Lloyd’s of London epitomises the global insurance industry and has played a significant role in driving the growth of the sector worldwide. As one of the high growth areas in the financial services industry, insurance is key to the DIFC. We are also home to the Watkins Syndicate, the first syndicate of the Lloyds group to come to the DIFC. We are very pleased to welcome Lord Peter Levene, who as Chairman of Lloyds, has taken the organisation to greater heights of prosperity. Today’s visit also underpins the excellent relationship we have with the City of London and we look forward to strengthening this further.”
Lloyd's Chairman Lord Levene said: “I have found today's visit to the DIFC both enjoyable and educational. The Lloyd's market and the Middle East already enjoy a long history of working well together. The economy here is growing fast, and I am here to find out more about how we can support the development of the local market, and to help Lloyd's develop a business strategy for the region.”
Lord Levene was elected as Lloyd’s Chairman in November 2002. He had spent 20 years in the Defence Industry before being asked to take on the Permanent Secretary post of Chief of Defence Procurement in the Ministry of Defence, a post which he held for 6 years. Subsequently, he held a number of Government posts and was Adviser to the Prime Minister on Efficiency and Effectiveness from 1992 to 1997.
In addition to the Chairmanship of Lloyd’s, he is presently Chairman of General Dynamics UK Limited and a member of the Board of TOTAL SA, China Construction Bank and Haymarket Group.
Lord Levene is an Alderman of the City of London and served as Lord Mayor for the year 1998/99 where he acted as ambassador for the UK financial services industry.
Chairman of Lloyd's of London – largest group of insurance companies Insurance sector