TALAL BAHAFI

CHAIR: David Benyon, editor, Global Reinsurance

The remainder of this decade is expected to see the Middle East each new levels for economic growth and prosperity, driven by government-led investment projects in countries – particularly Saudi Arabia and the UAE, including Dubai.
Much of this growth will be in sectors not traditionally associated with the region – think financial services, health, technology and tourism, as much as oil, gas and the energy sector – as economies seek to diversify and find sustainable avenues for future prosperity.
All this growth will be fuelled by investment, whether local or global, which will require insurance for investor confidence and sustainable growth.
This will in turn require reinsurance, as local carriers will need backing to meet demand. As towers rise, next-gen technology is implemented, and infrastructure is built, Dubai, as the region’s undisputed reinsurance hub, will play a transformational risk transfer role.
The DIFC is an essential part in this story. A significant share of the DIFC Authority’s time is spent developing investor relationships, as sources of fresh capital, from institutional titans to high-net-worth family investment funds.