Beazley has opened an office in the Dubai International Financial Centre (DIFC) to underwrite political risk, trade credit, terrorism, political violence and contingency insurance. The office will be headed up by Crispin Hodges.

The business will operate in the DIFC as Beazley Middle East Limited, a service company that is part of the Beazley group of companies. Beazley Middle East Limited has authority to enter into contracts of insurance on behalf of Beazley Syndicates 623 and 2623 at Lloyd’s, which will reinsure local ceding insurers underwriting political risk, trade credit, terrorism, political violence and contingency. The company is regulated by the Dubai Financial Services Authority.

“This is an extension of the strategy which has seen Beazley establish specialist underwriting hubs in Singapore, Australia and Hong Kong,” says Adrian Lewers, Beazley’s global head of political risks and contingency.