The Dubai International Financial Centre (DIFC) has reported that insurance firm Aon has issued a Letter of Intent regarding its application for an operating license.
Out of the $2.3 trillion global insurance market, the Middle East currently accounts for less than $10 billion in annual premiums. Yet a significant and growing proportion of Fortune 500 companies are located in Dubai, and demand for insurance services is expected to grow at 10 to 20 percent over the next ten years.
The DIFC offers a hub for insurance and reinsurance companies, brokers, captives and other service providers, enabling them to establish their regional operations in a single location in the Centre.
Aon is a broking and risk management consulting organization with assets in excess of $25 billion, employing 58,000 professionals in more than 550 offices throughout 125 countries with annual revenues exceeding $8.8 billion. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
