Allianz aerospace unit gets Dubai license

DUBAI, United Arab Emirates— Aerospace underwriter elseco Ltd., a unit of Allianz S.E., has been granted a license to operate from the Dubai International Financial Centre.

elseco will focus primarily on risks in the Middle East and Asia, according to a statement by the DIFC.

"Our suite of underwriting services meet what we believe is a strong market need, and the DIFC is clearly the ideal platform from which to reach out to the region," said Laurent Lemaire, Toulouse, France-based elseco's chief executive officer, in the statement.