Royal Shield Ltd receives license to operate from the DIFCPress Release24 Feb 2011 09:04 am
Regional reinsurance intermediary identifies Dubai International Financial Centre as its gateway to Africa & beyond
Royal Shield Ltd has received a license from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC).
Royal Shield Ltd by virtue of its positioning has access to the Lloyds and the regional reinsurance markets particularly in the Middle East and Africa.
Commenting on the newly formed office, Ravi Naidu, Royal Shield's SEO, said: "There are tremendous opportunities for a DIFC-based broker to enter the Middle Eastern and African insurance markets backed up 3 dimensional reinsurance support.
I have spent the last 20 years listening to insurers in these regions telling me that they are not being properly served by insurance intermediaries and I am delighted that Royal Shield is now firmly established in the DIFC and able to assist these insurers."
Marwan Ahmad Lutfi, Deputy CEO and Head of Business Development of DIFC Authority, commented: "The economies of the region are rapidly developing, becoming increasingly sophisticated and interconnected with the rest of the world. This has given rise to the need for insurance and reinsurance services which conform to international standards of regulation and best practice. I am delighted that Royal Shield has identified DIFC as the ideal platform from which to operate their business and we look forward to supporting their business to develop and grow within the region."