- 04 Jun, 2025
- Press Releases
Transamerica Life Bermuda, the global high-net-worth (HNW) life insurer, has been granted a license by the Dubai Financial Services Authority (DFSA) to establish a presence in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA).
Kristine Ung, Chief Executive Officer at Transamerica Life Bermuda, stated: “Our entry into the DIFC marks a significant milestone in our global growth strategy. Securing this license will allow us to support our distribution partners in the Middle East, which is becoming a vital international financial and wealth management hub.”
Salmaan Jaffery, Chief Business Development Officer of DIFC Authority, commented: “We are delighted to welcome Transamerica Life Bermuda to DIFC. Our progressive and pioneering laws and regulations continue to attract leading industry names to DIFC, which includes more than 125 insurance related entities. As the region’s only global hub for insurance and reinsurance, we look forward to working with Transamerica Life Bermuda to help them access the vast opportunities available from the Centre.”
Building on a longstanding heritage
With a heritage spanning almost 180 years through Aegon and Transamerica, Transamerica Life Bermuda brings significant experience in large sums assured and managing complex customer scenarios to the Middle East.
Adnan Ladki has been appointed as Head of DIFC for Transamerica Life Bermuda and will work closely with the leadership team to advance the companies ambitions for the region.
Over 20 years, DIFC has steered development within the insurance and reinsurance industry, attracting talent and technical expertise to access key markets in the Middle East, Asia, and Africa region. DIFC, as a jurisdiction that is benchmarked against regulatory environments including London, Bermuda, and Hong Kong, inspires confidence for reinsurers, reinsurance brokers, and MGAs to set up their operations.
Home to the region’s broadest and deepest financial ecosystem, DIFC announced record-breaking growth in 2024 with a total of 6,920 active companies, with record-breaking financial performance. DIFC is also home to a range of world-class insurance brokers, five of whom are among the top ranked entities by AM Best.
Driving thought leadership and initiating networking and discussion within these industries, the Centre continues to co-host the Dubai World Insurance Congress, a forum that brings together over 1,700 senior leadership from over 82 countries, to tackle key issues impacting the industry.
About Transamerica Life Bermuda
Transamerica Life (Bermuda) Ltd. (Transamerica Life Bermuda) is a leading insurer specialising in high-net-worth (HNW) life insurance solutions with extensive experience in underwriting large sums assured and managing complex customer scenarios to support legacy and business planning for HNW individuals and families. We are committed to helping our customers achieve their financial goals and safeguard wealth for future generations.
With a heritage spanning almost 180 years through Aegon and Transamerica, we have accumulated significant experience and knowledge in global life insurance. Transamerica Life Bermuda is incorporated in Bermuda with branches in Hong Kong and Singapore, and a representative office in the Dubai International Financial Centre. Learn more at www.transamericalifebermuda.com.
We are part of Aegon, an international financial services holding company. Aegon’s ambition is to build leading businesses that offer customers investment, protection, and retirement solutions, united by one single purpose: Helping people live their best lives.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn.
With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
For further information, please visit our website: difc.ae, or follow us on LinkedIn and X @DIFC.