Specialist insurance and reinsurance brokerage AI12 Ltd. has formally established operations in the Dubai International Financial Centre (DIFC) after receiving regulatory approval from the Dubai Financial Services Authority (DFSA).
The move aligns with the company’s long-term strategy to expand its global footprint and strengthen its portfolio in specialty lines, including aviation, aerospace, energy, oil and gas, marine, financial lines, employee benefits, and complex property.
The DIFC is currently home to 125 insurance and reinsurance firms, and more than 6,900 registered companies operating across banking, fintech, asset management, and advisory services. The ecosystem supports over 46,000 professionals, making it one of the most prominent financial centers in the Middle East.
The jurisdiction offers full foreign ownership, an English common law framework, and connectivity to markets across the United Kingdom, Europe, Asia, the Middle East, and Africa.
AI12 founder and CEO Anvar Mullabekov (pictured above) described the launch in the DIFC as both strategic and symbolic for the company.
“It sends a clear message to partners and markets about our credibility, our commitment to global standards, and our readiness to deliver innovative solutions at scale. This success is a reflection of the trust placed in us by our clients and the collective contributions of our exceptional team across the globe,” Mullabekov said.
The UAE re/insurance sector grew by 21% in 2024 and is projected to increase by another 20% in 2025, fueled in part by demand for enhanced digital distribution and coverage innovation following extreme weather events. The April 2024 floods, for instance, resulted in insured losses of between US$2.9 billion and US$3.4 billion.
Over half of UAE-listed insurers posted post-tax profit increases of around 12% following portfolio adjustments and pricing recalibrations.
The expansion also supports AI12’s five-year growth plan, with aims to broaden its international client base, build partnerships, and tap into diverse capital structures. The DFSA approval is intended to further support compliance and regulated service delivery.
AI12’s move into DIFC also comes amid a trend of international insurance intermediaries establishing a base in the jurisdiction. Global broker Gallagher entered the DIFC in 2022, aiming to expand service delivery to clients in the Middle East and Africa.
Other firms, such as Rokstone, have followed with DFSA-approved offices to enhance market access and underwriting capacity.
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