Warren Buffet firm chooses DIFC as Mideast hub

By Rajive Singh

DUBAI 14 February 2018: Dubai International Financial Centre (DIFC), has welcomed Berkshire Hathaway Specialty Insurance Company (BHSI), to its cluster of global insurance firms, as part of the company’s expansion into the Middle East.

BHSI has received its insurance licence from the Dubai Financial Services Authority. Berkshire Hathaway is owned by Warren Buffet, one of the world’s most successful investors with a net worth estimated recently at more than US$84 billion.

Arif Amiri, Chief Executive Officer of DIFC Authority, said, “We are pleased to welcome a global player like Berkshire Hathaway into our dynamic community at DIFC. The unmatched ecosystem we have created at the centre, together with the strategic location of Dubai, continue to attract market leaders that are looking to access business opportunities across the Middle East, Africa, and South Asia, Measa. This is a trend we are particularly seeing in the insurance sector, which is gaining increased momentum at DIFC. As the MEASA’s leading financial hub, we remain focused on constantly developing our infrastructure and legal and regulatory framework to accommodate to this demand.”

“We are excited to expand BHSI’s footprint in this region which will service those markets in the Middle East and beyond who seek insurance support in the DIFC. The strategic location of Dubai as well as the stability and efficiency of the DIFC make it an ideal hub for BHSI to support economic growth in the region. Our operation in the DIFC will bring BHSI’s financial strength, and underwriting and claims excellence to the region,” said Marc Breuil, President of Asia Middle East at BHSI.