Liberty International Underwriters (LIU), a division of Boston-based Liberty Mutual Group, has entered the Middle East with a new office in the Dubai International Financial Center (DIFC).
Liberty said the new facility is “in line with LIU’s expansion strategy, entry into the market gives local brokers more capacity to help meet the growing marketplace demand for construction, oil, gas and power insurance.”
“Entering Dubai puts us in the region’s important and rapidly expanding insurance market,” noted Edmund F. Kelly, Liberty Mutual’s Chairman, President and CEO. “As the financial hub for the Gulf and Middle East, Dubai provides opportunities for growth consistent with our overall international expansion strategy.”
The new office, managed by Middle East regional manager Elie Bouchaaya, will initially focus on the energy and construction businesses. As opportunities arise in the market, Bouchaaya and his team will offer access to other product lines, including casualty and financial lines.
“To keep up with demand, brokers are looking for increased local capacity with companies that understand the region,” indicated Sean Rocks, chief executive of Liberty International Underwriters in Europe. “Our new office and Elie’s extensive experience in the Middle East insurance market over the last 20 years, provides both.”
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