Transamerica Life Bermuda has received regulatory approval from the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC), extending its global footprint into the Middle East.
The move gives the high-net-worth life insurer access to the DIFC’s financial ecosystem, which hosts more than 125 insurance-related entities. The centre has become a key regional hub for global insurance and reinsurance firms looking to serve markets across the Middle East, Africa, and South Asia.
The company, part of Aegon’s global operations and tracing its roots back 180 years, specialises in life insurance for high-net-worth individuals. It focuses on large-sum assurance and complex client requirements.
Adnan Ladki has been appointed Head of DIFC operations and will lead regional engagement and expansion efforts.
The DFSA-licensed operation follows a broader trend of insurance firms establishing a presence in the DIFC. The centre is benchmarked against other regulatory jurisdictions such as London, Bermuda, and Hong Kong, and it provides access to regional growth markets.
In 2024, the DIFC achieved its highest performance to date, with 6,920 active companies. The centre is also co-host of the Dubai World Insurance Congress, which draws over 1,700 executives from more than 80 countries to discuss sector challenges and opportunities.
