The Berkshire Hathaway Specialty Insurance (BHSI) is reportedly planning to launch a range of new products for its customers from its office in Dubai.
Berkshire Hathaway Specialty Insurance plans to roll out new products in Dubai. Photo: Courtesy of JonClee86.
The Berkshire Hathaway Specialty Insurance (BHSI) is reportedly planning to launch a range of new products for its customers from its office in Dubai.
Through the new set of offerings, the company aims to tap the economic growth in regions from Middle East and North Africa to India, Turkey and CIS, a company official told thenational.ae.
With its office in the Dubai International Financial Centre (DIFC), the company provides specialty and commercial insurance and reinsurance products to energy, property, marine, construction, casualty and executive as well as professional segments.
BHSI Middle East senior executive officer Alessandro Cerase told the publication: “We are already reviewing additional products. We might also offer group personal accident.
“Right now we are not considering entering the retail business but that does not mean we will not review our position if regulations change over the years. We might decide to expand in the local environment.”
The UAE’s insurance market is expanding and there are more than 60 insurance companies vying for business in a country with a population of approximately nine million.
BHSI, part of Berkshire Hathaway’s National Indemnity group of insurance companies, was launched in 2013.
Initially, the business was launched in the US with an aim to expand in primary, property, casualty and specialty insurance portfolio across the globe.
Currently, BHSI has a workforce of nearly 1,000 staff in 30 offices across 14 countries.