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Insure Direct eyes plans for new insurances

Dubai, January 21, 2010

Insure Direct, a Dubai-based leading supplier of insurance broking services, is set to forge into key new sectors including marine, energy, construction and related liability insurances following a start to its new European alliance.

The company established its footing in the sectors under focus after its recent merger with Independent Risk Solutions (IRS), specialist brokerage firm based in Rotterdam, the  Netherlands. The strategy to maximise its new market reach lays emphasis on flexible, industry specific products.

The merger brought together Insure Direct's leading edge and expanding footprint in the Middle East and IRS BV's strength in high net worth areas such as marine and energy-related industries in the Netherlands.

"We are now in a position to define new products that our expanded operational sectors demand,” said Kenneth Maw, CEO of Insure Direct.

“The merger with Independent Risk Solutions BV was well timed to sustain the momentum of Insure Direct's growth pace. It has brought IRS BV's considerable technical sector knowledge, global client base and an independent corporate infrastructure, adding strategic depth to Insure Direct's growth plans,” he added.

Ruud Jonker, on behalf of the three partners of IRS BV, said: "IRS BV has strong fundamentals to provide exceptional insurance and reinsurance solutions.  We offer integral transparency to everything we do and our team of professionals delivers cost-effective and comprehensive risk transfer and advisory solutions.

“We believe the merger with a prestigious broking company like Insure Direct will further strengthen our worldwide service network and provide us both with a platform for further growth in the global arena."

The alliance, announced in November 2009 and retro-active from January 1, 2009, was concluded in Dubai and Rotterdam simultaneously with the signing of the merger papers by the shareholders of both Insure Direct, and IRS BV.

With the addition of Rotterdam, the expanded insurance group intends to undertake a rebranding exercise early 2010. – Reuters




Tags: Dubai | Insurance | brokers | Rotterdam | Insure Direct | IRS |

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