DIFC Seminar to Focus on Benefits of Captive Insurance

A seminar to be organised by the Dubai International Financial Centre (DIFC) on 27 January, 2009 will explore the benefits of captive insurance as a risk-management tool and the growth opportunities emerging in the region for global providers of captive insurance solutions.

Part of the DIFC Knowledge Series, the seminar titled The Captive Opportunity will feature speeches by officials from DIFC Authority and the Dubai Financial Services Authority (DFSA) as well as presentations by leading captive insurance providers and legal firms. Key issues to be discussed include: the optimal role of captive insurance solutions in an organisation’s risk management strategy; the corporate motivations behind the implementation of captive insurance solutions; legal considerations of captives in DIFC; the long-term benefits provided through the adoption of a captive structure; and the opportunities offered by captives in the current economic climate.

Abdulla Al Awar, Managing Director of DIFC Authority said: “Over the past few years, across the global economy, captive insurance has emerged as a strategic and cost-effective risk financing tool for large assets.  With risk management becoming more sophisticated, more and more corporations are realising the benefits of captive insurance. We at DIFC see a very high growth potential for captive insurance in the region and have developed specific regulations to support the growth of this niche sector. The seminar will discuss the value that captive insurance can bring to a firm’s larger risk management strategy and the specific ways in which DIFC can support captive managers and service providers.”

Apart from officials from DIFC and DFSA, speakers from Marsh, Heritage, Clyde & Co and Simmons & Simmons will also address the audience at the event. The seminar will be held on Sunday, 27 January, 2009 at the DIFC Conference Centre from 1.00 pm to 5.00 pm. The event is free to attend.