Page 128 - Issue-601-December-2021
P. 128
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Kay International AMEA expanding its operations to United States
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Kay International AMEA Limited, a boutique R e i n s u r a n c e ensure effective risk transfer in promising emerging markets”.
Intermediary and Underwriting Management Agency in DIFC, He added: “Equally strategic for Kay International AMEA Limited is
announced that the company has established a wholly owned sub- that the company now operates from two significant and global
sidiary in the United States with the aim of expanding its facultative and reinsurance hubs (Dubai and Miami), which facilitate
treaty reinsurance placement services to Latin America and the International financial trade within robust and regulated business
Caribbean countries. It has initiated business activities from its new environments. We are proud to play a part in building a reinsurance
office in Miami, Florida, after receiving its regulatory approval from the risk transfer bridge between two highly reputed financial and reinsur-
Florida Department of Financial Services to operate as a Reinsurance ance hubs”.
Underwriting Agency and Reinsurance Intermediary. This mimics the Jimmy Patronis, CFO of the State of Florida, and Head of the
hybrid reinsurance services model that the company practices in the Florida Department of Financial Services said: “As people in busi-
DIFC, United Arab Emirates. The announcement was made during the ness know Florida is the gateway to Latin America, and I’m excited
company’s 5th year corporate anniversary gala held in Dubai. to welcome Kay International AMEA LLC as they expand their oper-
Commenting on this strategic expansion, Walid Sidani, Founding ations to the Sunshine State”.
Member and Group CEO, stated: “We have observed attractive par- Salmaan Jaffery, Chief Business Development Officer at DIFC
allels between the LatAm and Caribbean markets and the MENA Authority, commented: “ K a y International is a great example of
region - both emerging markets are moving forward with major devel- how DIFC offers great opportunities for growth and prosperity by
opment and infrastructural projects - this is occurring at a time that maintaining the world-class international standards in the financial
the insurance penetration rates, although still low but increasing. This services sector. We are proud to see Kay International expanding
offers us the opportunity to trade and offer quality risk capacity to globally after a strong start in DIFC”.
2021(Ȫ°ùjO) ∫h’G ¿ƒfÉc - 601 O~©dG - ájOÉ°üàb’G ¿É«ÑdG 128
