Sun Life has obtained authorisation to establish an office in the Dubai International Financial Centre (DIFC), adding a Middle East base to its high-net-worth (HNW) insurance operations that are currently anchored in Hong Kong, Singapore, and Bermuda.
Sun Life plans to begin operating from its new DIFC office in December. The unit will be led by senior executive officer Sameera Anand and will work with local and regional intermediaries to serve HNW and ultra-high-net-worth (UHNW) clients across the Middle East. The authorisation was granted by the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC. From its Dubai base, Sun Life will provide brokers with access to its international life insurance solutions for wealth transfer, asset protection, and cross-border planning.
Sujoy Ghosh, CEO, Sun Life high net worth, commented: “We are delighted to have received approval to join DIFC. This expansion brings us closer to our partners in the region and reinforces Sun Life’s position as a global leader in HNW insurance. Our unparalleled expertise, financial strength, and comprehensive solutions make us the partner of choice for HNW and UHNW individuals seeking to protect and grow their wealth across generations.”
Sun Life’s HNW platform operates through underwriting centres in Hong Kong, Singapore, and Bermuda, offering round-the-clock case handling and a suite of cross-border life insurance products designed to build, protect, and preserve wealth over multiple generations. The DIFC office will function as a regional contact point for Middle Eastern brokers and clients with links to Asian financial centres.
DIFC officials describe Sun Life’s approval as part of a broader pattern of global insurers and intermediaries using Dubai as a base to reach clients in the Middle East, Africa, and South Asia and to connect with other hubs in Asia. His Excellency Arif Amiri, chief executive officer of DIFC Authority, said: “We welcome Sun Life’s decision to operate from DIFC, underscoring our position as a global financial powerhouse. DIFC’s legal and regulatory clarity, tax efficiency, and modern infrastructure give Sun Life confidence to grow their regional presence and access emerging markets from the centre. Their global reach and strong financial strength rating will let the region’s HNW and UHNW clients secure and grow their wealth.”
By the end of 2024, DIFC was home to 125 insurance and reinsurance-related entities, including global insurers, reinsurers, reinsurance brokers, captives, managing general agents, Lloyd’s service companies and coverholders, consultants, compliance firms and risk management providers. These firms use DIFC to structure and service business across the wider Middle East, Africa, and South Asia region, often in coordination with Asian hubs such as Hong Kong and Singapore.
In May 2025, Manulife opened an office in DIFC for its global HNW unit, which it describes as the first international HNW insurer in the centre with a Category 4 licence. The licence allows Manulife to advise on and arrange life insurance contracts for HNW and UHNW clients in the region. Manulife global HNW brings together teams in Bermuda, Hong Kong, and Singapore and distributes through an international brokerage network to clients in more than 150 countries. The business said its DIFC operation is intended to address rising demand for wealth accumulation, legacy planning, and risk mitigation products in the Middle East. It cites estimates that HNW and UHNW segments collectively hold nearly US$80 trillion in wealth, with global wealth projected to rise by about 38% over the next five years.
On the intermediary side, BMS Group has expanded in DIFC with the launch of BMS (DIFC) Ltd in December 2025, following receipt of its licence and regulatory approvals. The new entity is part of a regional strategy that extends from Turkey through the Middle East and North Africa. BMS (DIFC) will handle business originating from across the MENA region and Turkey, as well as territories and classes underwritten in DIFC. Ranji Sinha has been appointed senior executive officer of BMS (DIFC) Ltd. In the UAE, Lavanya Mamidanna remains managing director of BMS Masaood, responsible for direct business. Both report to Vedanta Baruah, CEO, BMS Middle East & North Africa, who reports into London.
For Asian insurers, reinsurers, and brokers, Sun Life’s DIFC approval and the broader expansion by Manulife and BMS indicate closer links between Asian HNW life hubs and Dubai’s role as a regional centre for wealth and risk transfer. Life carriers with HNW operations in Hong Kong, Singapore, and Bermuda are increasingly connecting those capabilities with DIFC-based platforms to serve families and corporates whose assets, businesses, and beneficiaries span Asia and the Middle East. For intermediaries and reinsurers, the number of global firms in DIFC provides more counterparties and structures for product design, distribution, and capital management across both regions.
