AM Best, one of the oldest and most authoritative insurance rating and information source, said it has won approval from Dubai International Financial Centre to open its office in the emirate.

The new office will operate as AM Best Mena, South & Central Asia, servicing clients throughout the region and developing new relationships to grow its insurance ratings franchise.

The rating analytics will continue to be performed by teams based in London and Hong Kong, said a statement from AM Best.

VasilisKatsipis has been appointed general manager – market development, and will be responsible for the office in Dubai reporting to Nick Charteris-Black, managing director, market development A.M. Best – EMEA.

“This announcement is an important step in AM Best’s commitment to being a truly global rating agency servicing the needs of the (re)insurance industry throughout the world including the growth economies in this important region,” remarked Dr Roger Sellek, CEO of AM Best (EMEA and Asia Pacific).
 
“We are delighted to have received the necessary approvals from the authorities at the DIFC and look forward to joining the other international companies in what has become a major financial centre for the region,” he added.-TradeArabia News Service