Clyde & Co has been rated the top overall law firm for the insurance sector in the Middle East and Africa by Reactions, a financial magazine for the global insurance market.

The annual survey involves over 100 in-house counsel and senior executives at insurance and reinsurance companies around the world and covers a number of areas of expertise including Regulatory, Litigation/Dispute Resolution, Insolvency (including Run-Offs), Policy Drafting, Corporate Contracts, Insurance Linked Securities and Reinsurance.

Clyde & Co’s Middle East insurance team has been involved in a number of ’firsts’ in the region: advising the first Lloyd’s Syndicate on setting up in the region (Watkins), the first insurance broker in the Qatar Financial Centre (Nasco Karaoglan), and also recently advising on the authorisation of a $400m start-up reinsurer, Gulf Re, in the DIFC.

The team is also engaged on a significant takaful venture, and has been retained by both the Dubai and Abu Dhabi governments to advise on health insurance and funding laws.

Wayne James, a partner in Clyde & Co and head of the Middle East insurance practice, said: ’This is a gratifying result, coming as it does directly from clients, and I think is a tribute to the hard work put in by the members of our regional insurance team. The Middle East is an area of increasing interest to insurers across the globe.

With a growing number of entrants interested in the market and significant new developments in regulation, the market requires dedicated specialist advice. 

Our team has worked hard to have a broad focus across the region, which we expect will assist companies looking to take advantage of the opportunities emerging across the sector, and enable them to go into the market with their eyes open to the pros and cons of what is available.’

Clyde & Co’s regional insurance team, which has groups concentrating on the areas of ’Regulatory’, ’Dispute Resolution & Claims’ and ’Corporate’, has grown considerably over the past year, with notable recent additions including the relocation of James O’Shea, the head of Clyde & Co’s regulatory practice in the UK, to Dubai, and the lateral hire of Mark Beswetherick, Senior Associate from specialist insurance law firm Fishburns in London.

Another notable addition, Chris Bromhead, arrived late last year from a role as Senior Legal Counsel for AIG (Australia) to join the team in Dubai as a Senior Associate. - TradeArabia News Service