Transamerica Life Bermuda, a global high-net-worth life insurer, has officially launched its business in the Dubai International Financial Centre (DIFC) following the approval of its operating license by the Dubai Financial Services Authority (DFSA). This move is part of the company’s strategy to expand its global reach.

Adnan Ladki has been appointed as the Head of DIFC for Transamerica Life Bermuda. He will collaborate closely with the leadership team to pursue the company’s objectives in the region.

Kristine Ung, CEO at Transamerica Life Bermuda, remarked that entering the DIFC represents a significant milestone in the company’s global growth strategy. She emphasized that securing this license will enable them to better support their distribution partners in the Middle East, which is increasingly recognized as a crucial international financial and wealth management hub.

Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, noted that the progressive and innovative regulatory framework in the DIFC continues to draw leading industry names, with over 125 insurance-related entities already established in the center.

With a history spanning 180 years through its parent companies Aegon and Transamerica, Transamerica Life Bermuda brings extensive experience in managing large sums assured and complex customer situations to the Middle East market.

The DIFC has seen remarkable growth, reporting a total of 6,920 active companies in 2024, alongside strong financial performance, further solidifying its status as a leading financial center.