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HomeBanking & FinanceGlobal insurer takes stake in Dubai firm

Global insurer takes stake in Dubai firm

jltJardine Lloyd Thompson (JLT), a global insurance provider, has entered into a strategic partnership Insure Direct, a Dubai-based insurance brokerage, by acquiring a stake in the UAE firm.

The strategic partnership adds considerable international and specialist expertise to Insure Direct’s capabilities and will enable Insure Direct to satisfy significant and growing demand from clients in several key sectors, a statement said.

Insure Direct’s operations in Dubai, Bahrain and Qatar will be rebranded in due course, it added.

They will work closely with JLT’s local operation in the Dubai International Finance Centre (DIFC) as well as JLT operations elsewhere in the world. The agreement will substantially increase Insure Direct’s insurance capabilities in the region as well as provide the potential to capitalise on larger local wholesale, reinsurance and retrocession opportunities.