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08-03-23
Ma’aden, Dubai International Financial Center cooperate to back multi-commodity company
(MENAFN) Saudi mining giant Ma’aden has welcomed a captive license from the Dubai International Financial Center to support the multi-commodity company manage dangers and secure itself versus possible decreases.
The move is going to permit Ma’aden to establish its insurance company to protect versus unlike business dangers whereas managing difficult-to-insure risk exposures as well as filling any differences in its risk handling plan.
“We look forward to establishing our presence in DIFC with the new captive license. The center’s strategic location, modern business environment, and world-class services will support Ma’aden in achieving our growth strategy,” as stated by Yaser A. Barri, chairman of Ma’aden Captive at Ma’aden Re Limited.
The insured company in a captive insurance handling brings its danger in-house by handling a licensed company that proposes insurance to its parent group.
The firm is going to be able to regain profitable premiums that would otherwise be compensated to commercial insurers.
MENAFN08032023000045014228ID1105728387
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