HDI Global Expands Middle East Business with Local Office in Dubai
This strategic decision puts the business in a more advantageous position with its customers, allowing it to better serve them with insurance solutions and increase its market share in the region.
HDI Global SE continues its international expansion by receiving a regulatory license from the Dubai Financial Services Authority (DFSA) to open an office in Dubai. The new local presence in the Dubai International Financial Centre (DIFC) will allow HDI Global to bring its global financial strength and technical expertise closer to clients in the Middle East. The new Dubai office Managing Director, Willem van Wyk, brings over three decades of global insurance industry experience, including senior leadership roles in the Middle East and beyond.
Leadership and Experience
Currently, the Regional Market Manager for ASEAN and Australasia, Willem van Wyk has contributed to significant profitable growth in the Asia Pacific portfolio, working closely with teams in Australia, New Zealand, Singapore, and Hong Kong branch offices since joining HDI Global in 2020. Before joining the HDI Global team, he held senior positions at AGCS, Marsh, and Commercial Union, including as CEO of AGCS in Dubai from 2016-17. This followed his previous experience in the Middle East insurance industry, where he lived from 2001-05.
“The Middle East continues to become a more important player in the global economy. The DIFC is a dynamic marketplace that provides growth opportunities for HDI now and in the future," says Willem van Wyk of the HDI Global move to Dubai. “HDI is excited to bring A-rated capacity and a strong underwriting team to support brokers and clients in the DIFC. As a Partner in Transformation, we are confident with our global capabilities and technical expertise that HDI can support our clients in their transition to the economy of the future."
Operational Plans and Offerings
The establishment of HDI Global's office in Dubai is a fitting continuation of the industrial insurer's prosperous business expansion in the Middle East and Asia Pacific area. “As part of the overall global vision and APAC growth strategy, Dubai is an exciting opportunity for us to move closer to this expanding market, and strengthen our relationships with brokers and clients by providing solutions through a local team of underwriters, led by Willem van Wyk who has many years’ experience in the market”, says David Hullin, member of the HDI Global board of management with responsibility for the international business. He continues: “HDI Global’s move demonstrates our successful business development and supports our global vision to be the Partner in Transformation for our clients. For brokers in the region, they will have local access to a long-term reliable partner with responsive claims, international programmes, and risk consulting capabilities for their clients. I wish Willem and the entire team in Dubai every success."
HDI Global plans to commence operations from DIFC in the third quarter of 2024, initially offering engineering, construction, and property insurance products. Riziq Ishaq has been appointed to lead the property underwriting line, and John Morrell will lead construction and engineering.
Arif Amiri, Chief Executive Officer of DIFC Authority, remarks, “We welcome HDI Global to DIFC. As the region’s largest financial centre with over 42,000 people, DIFC continues to enhance its ecosystem for the sector. With its 20-year strong track-record of servicing people and businesses in the region, the Centre is home to the largest cluster of over 100 registered insurers, reinsurers, captives and insurance-related entities who are utilising our platform to achieve their growth ambitions. Our world-class laws and regulations enable these companies to confidently operate in the jurisdiction, capture new growth opportunities, and collectively contribute to driving the future of finance.”
Key Appointments and Expertise
Riziq Ishaq brings over 20 years of experience in the insurance industry, having worked with companies like Allianz, Zurich, and IGI. He has a proven track record in running profitable portfolios and possesses strong business development skills. With extensive expertise in portfolio steering and risk management, Ishaq's rich professional history with direct, regional, and international insurance and reinsurance companies has equipped him with a vast network of relationships and significant underwriting expertise across the region.
John Morrell's Role and Background
John Morrell, currently Underwriting Manager for Engineering in the Northern Region of the Australian branch of HDI Global, relocated to Dubai at the end of June. He joined HDI Global in 2017 following his earlier engineering career and brings a strong background in managing large-scale infrastructure projects and a deep understanding of technical and industry requirements. Other functions and underwriting lines of business, including liability and marine, will be provided via the HDI Singapore office, with the vision to transition to a fully integrated business in the medium term.
The supply of Property and Engineering insurance solutions will be the primary focus initially, in accordance with the designated underwriters. The portfolio in Dubai will include more lines of coverage as the company expands. "Our clear goal will be to offer our clients and business partners innovative solutions, capital strength, stability, technical expertise, and reliable service – whether they operate internationally or solely in the Middle East. Thanks to our global network, we enable clients and brokers to operate worldwide with compliance and confidence”, says Willem van Wyk.
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