Insurance penetration is low in the Middle East, but it is growing rapidly. RFIB Middle East was set up, the first brokerage of its kind, in the Dubai International Financial Centre in 2006. It has developed into a regional hub handling our clients’ reinsurance needs in the marine, non-marine, financial and professional risks sectors. In 2011 we obtained a licence to establish a joint venture in Riyadh and we run a separately constituted Saudi regulated reinsurance brokerage company there. We were granted a licence to operate a reinsurance brokerage in Baghdad in 2014 and are on the Iraqi Government’s list of preferred brokers.We have unparalleled knowledge of the region, and have the capacity to handle almost all classes of reinsurance business. We have shown flexibility in recent years, in the face of severe instability in the Middle East region. Thus we have compensated for the inevitable loss of some clients by broadening our client base in other countries
Being a Lloyd’s broker, and as Lloyd’s expands its footprints in the region through the DIFC platform, RFIB is well positioned in the Middle East to respond to our Clients’ evolving requirements and offer first class solutions and expertise.
Areas of expertise:
In addition to our handling of hull and cargo risks, yachts, and marine liabilities, we are strong in war risks, sabotage and terrorism, kidnap and ransom and political violence.
In Non-Marine, we handle energy, engineering, construction, property and casualty risks, and are extending our business into bankers’ blanket bonds, cyber and cash-in-transit.