Transamerica Life Bermuda secures license to operate in Dubai

This will allow the company to support its distribution partners in the Middle East.

Transamerica Life Bermuda, a global high-net-worth (HNW) life insurer with operations in Singapore and Hong Kong, has secured a license to establish its presence in the Dubai International Financial Centre (DIFC).

“Our entry into the DIFC will allow us to support our distribution partners in the Middle East, which is becoming a vital international financial and wealth management hub,” Kristine Ung, Chief Executive Officer at Transamerica Life Bermuda, said.

Over 20 years, DIFC has steered development within the insurance and reinsurance industry, attracting talent and technical expertise to access key markets in the Middle East, Asia, and Africa region.

DIFC announced record-breaking growth in 2024 with a total of 6,920 active companies, whilst also being home to a range of world-class insurance brokers, five of whom are amongst the top-ranked entities by AM Best.

Adnan Ladki has been appointed as Head of DIFC for Transamerica Life Bermuda.