Chaucer receives Dubai specialty licence
Specialist Lloyd's insurance group Chaucer has gained authorisation to set up an operation in the Dubai International Financial Centre (DIFC).
The opening of Chaucer MENA is part of the company's strategy to deepen its local presence in the Middle East and North Africa. It will write a broad range of specialty insurance and treaty business through Syndicate 1084 at Lloyd’s, the company said.
Fawzi Omari will lead Chaucer MENA. He has extensive specialty broking and underwriting experience in the region, according to the press release. Since joining in February 2015, Omari has headed Chaucer underwriting in the MENA region, including the development of Chaucer MENA.
The Dubai Financial Services Authority regulates Chaucer Dubai, which is incorporated as Chaucer MENA Underwriting Limited.
John Fowle, Chaucer chief executive officer, said: "I believe that having a strong local presence in the region, backed with in-depth local knowledge, will allow us to perfectly translate our highly specialised Lloyd’s underwriting skills into a smart, innovative and first class service for brokers and clients in the Middle East and North Africa. This region offers great potential, and we are honoured to be here to support that."
Omari added: "I look forward to leading delivery of our smart risk solutions for brokers and clients across the region. From my time in the Middle East, I understand how business likes to work here and the specialty products and services business wants. My aim now is to ensure that we deliver on these and make Chaucer MENA a preferred destination for specialty business in the region."
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