Transamerica Life Bermuda has secured a licence from the Dubai Financial Services Authority (DFSA) to establish a presence in the Dubai International Financial Centre (DIFC).  

With almost 180 years of history through Aegon and Transamerica, the company specialises in underwriting large sum assurances and managing intricate client situations.  

This expertise is expected to cater to the wealth management and legacy planning needs of the region’s affluent clientele. 

Adnan Ladki has been appointed as head of DIFC for Transamerica Life Bermuda. 

In his new role, he will collaborate with the leadership team to drive the company’s regional goals forward. 

Transamerica Life Bermuda CEO Kristine Ung stated: “Our entry into the DIFC marks a significant milestone in our global growth strategy. Securing this licence will allow us to support our distribution partners in the Middle East, which is becoming a vital international financial and wealth management hub.” 

Over the past 20 years, DIFC has supported the development of the insurance and reinsurance sector across the Middle East, Asia and Africa. 

Its regulatory framework, aligned with standards in London, Bermuda and Hong Kong, has enabled reinsurers, brokers and managing general agents to establish operations. 

DIFC Authority chief business development officer Salmaan Jaffery stated: “We are delighted to welcome Transamerica Life Bermuda to DIFC.  

“As the region’s only global hub for insurance and reinsurance, we look forward to working with Transamerica Life Bermuda to help them access the vast opportunities available from the Centre.” 

Transamerica Life Bermuda specialises in life insurance solutions for high-net-worth individuals, focusing on large sums assured and complex customer scenarios.  

This move follows Transamerica’s rebranding announcement in January.