Lancashire Holdings said today that it's wholly-owned subsidiary Lancashire Marketing Services has received authorisation to conduct business in the Dubai International Financial Centre (“DIFC”).
The new subsidiary, headed by recently appointed CEO John Melcon, will concentrate on marketing Lancashire's UK and Bermuda-based insurance subsidiaries in the Middle East.
John Melcon, chief executive, Lancashire Dubai, said: “We have been pleased with the timely and professional manner with which the DFSA and the DIFC have processed our application and we are very excited about the long term potential our presence in the Middle East will bring to the Lancashire Group.”
Richard Brindle, chief executive, Lancashire Holdings, added: “Operating from the DIFC, Lancashire Middle East will allow us to focus even more strongly on our core classes of business. John Melcon's considerable experience in the region will facilitate the Lancashire Group growing a solid book of business that will complement our existing underwriting.”
