Lancashire plans to opens in DIFC

DUBAI, United Arab Emirates—Lancashire Holdings Ltd. announced that it plans to open a subsidiary in the Dubai International Financial Centre and seek a license from the Dubai Financial Services Authority for the subsidiary to operate as an insurance intermediation firm.

In a statement, Richard Brindle, chief executive officer of Hamilton, Bermuda-based Lancashire, said the company intended to write non-catastrophe-exposed engineering risks in the Middle East, as well as other lines such as energy.

"In the longer-term, having a presence in the Middle East will allow the Lancashire group to grow a solid book of business that will complement our existing underwriting," he said in the statement.