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Pembroke, Bermuda-based Axis Capital Holdings Ltd. said Tuesday that its Axis Re S.E. subsidiary will open an office in the Dubai International Financial Centre in Dubai, United Arab Emirates.
Axis Re is a Dublin, Ireland-based composite reinsurance company.
The Axis Re Dubai office will focus on marketing accident and health specialty reinsurance in the Middle East and Africa, Axis Capital said in a statement.
“With the expansion of mandatory health insurance across the Middle East and Africa, the opportunity for an innovative health reinsurance specialist like Axis to establish a physical presence in the market is timely and appropriate,” Rob Smart, reinsurance manager for international accident and health, and principal representative said in an emailed statement. Mr. Smart added, “Opening this representative office is an exciting first step for Axis in the region. As we move head, we look forward to building our business and being a leader in the market.”
Security firm Kaspersky Lab Z.A.O. has said that an Arabic-speaking cybercriminal group that has been active since 2012 has increased attacks in the Middle East and North Africa region in the second and third quarters of 2015, reports ArabianBusiness.com.