Swiss Life is further expanding its business in the global market of life insurance solutions for high net worth individuals and is opening an insurance intermediation office in Dubai. This will enable Swiss Life to benefit from the growth opportunities in the Middle East. The inauguration will take place on 19 November and will be attended by both the Swiss Ambassador in Dubai and the Director of the Dubai International Financial Centre.
Following the establishment of the Singapore branch office in spring of this year to secure access to the Asian market, Swiss Life is now expanding its business in insurance solutions for high net worth individuals – private placement life insurance – and, is opening an insurance intermediation office in Dubai (in Dubai’s International Financial Centre (DIFC)) in order to tap into the growth market in the Middle East. The new office’s product portfolio comprises customised concepts for private placement life insurance (PPLI), integrating wealth management with high-end life insurance. Swiss Life is cooperating with leading private banks and independent asset managers to sell these products.
Peter Huber, CEO Private Placement Life Insurance: “With the Dubai office we are ideally positioned to meet the requirements of international high net worth individuals. This market, with its currently low insurance density, enables us to position ourselves as an exclusive partner for customised life insurance and to exploit our growth potential.”
The Dubai insurance intermediation office, which is located in the Dubai International Financial Centre (DIFC), will be set up and managed by Peter Traber. The office received authorisation from the Dubai Financial Services Authority (DFSA) and will be subject to its supervision. The inauguration will take place on 19 November, with the Swiss Ambassador, Wolfgang Amadeus Bruelhart, and the Director of the Dubai International Financial Centre (DIFC), Abdulla Al Awar, attending as guests of honour.
About the Private Placement Life Insurance unit
The Private Placement Life Insurance business unit offers structured life insurance solutions integrating wealth management with high-end life insurance to high net worth individuals. In 2007, gross written premiums amounted to over CHF 3 billion and assets under administration to CHF 9 billion. The business unit employs a workforce of 150 in Dubai, Liechtenstein, Luxembourg, Singapore and Switzerland.
Peter Huber, CEO Private Placement Life Insurance: “With the Dubai office we are ideally positioned to meet the requirements of international high net worth individuals. This market, with its currently low insurance density, enables us to position ourselves as an exclusive partner for customised life insurance and to exploit our growth potential.”
The Dubai insurance intermediation office, which is located in the Dubai International Financial Centre (DIFC), will be set up and managed by Peter Traber. The office received authorisation from the Dubai Financial Services Authority (DFSA) and will be subject to its supervision. The inauguration will take place on 19 November, with the Swiss Ambassador, Wolfgang Amadeus Bruelhart, and the Director of the Dubai International Financial Centre (DIFC), Abdulla Al Awar, attending as guests of honour.
About the Private Placement Life Insurance unit
The Private Placement Life Insurance business unit offers structured life insurance solutions integrating wealth management with high-end life insurance to high net worth individuals. In 2007, gross written premiums amounted to over CHF 3 billion and assets under administration to CHF 9 billion. The business unit employs a workforce of 150 in Dubai, Liechtenstein, Luxembourg, Singapore and Switzerland.
Swiss Life
The Swiss Life Group is one of Europe's leading providers of life insurance and pension solutions. The Group offers individuals and corporations a broad range of products combined with comprehensive advice through its own sales force as well as brokers and banks in Switzerland, France and Germany. It provides internationally operating corporations with employee benefits solutions from a single source, and is among the global leaders in structured life and pension products for high net worth individuals with its centres of competence in Luxembourg, Liechtenstein and Singapore.
Swiss Life is the majority shareholder of the Hanover-based AWD Group, one of Europe's top financial services providers for the medium- and high-income customer segments. AWD offers its clients independent financial advisory services. Around 6300 advisors and intermediaries work for the AWD Group in ten European countries.
Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of around 9000.
The Swiss Life Group is one of Europe's leading providers of life insurance and pension solutions. The Group offers individuals and corporations a broad range of products combined with comprehensive advice through its own sales force as well as brokers and banks in Switzerland, France and Germany. It provides internationally operating corporations with employee benefits solutions from a single source, and is among the global leaders in structured life and pension products for high net worth individuals with its centres of competence in Luxembourg, Liechtenstein and Singapore.
Swiss Life is the majority shareholder of the Hanover-based AWD Group, one of Europe's top financial services providers for the medium- and high-income customer segments. AWD offers its clients independent financial advisory services. Around 6300 advisors and intermediaries work for the AWD Group in ten European countries.
Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The Swiss Life Group employs a staff of around 9000.
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This publication contains specific forward-looking statements, e.g. statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.