First Captive Management License in Abu Dhabi Accorded to Marsh

Marsh has announced that it has obtained the first license to provide captive insurance management services in Abu Dhabi. The firm will operate as Marsh Management Services (MENA) Limited and is the first company to be authorized as a captive insurance manager by the Abu Dhabi regulatory authority.

Authorization for MENA to provide captive insurance management services was granted by Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA).

The AGDM is the international financial centre in the capital of the United Arab Emirates.

"Abu Dhabi aims to play a pivotal role in meeting the growing financial insurance needs and requirements of the region while connecting and strengthening links between the financial markets of Europe, the Middle East, Africa, and Asia," said Ronny Vellekoop, senior executive officer, Marsh.

Mr. Richard Teng, CEO of the FSRA of ADGM, commented, "ADGM will continue to strengthen its captive insurance regime to provide users with strategic risk management and financial solutions to support their business ambition and growth locally and globally."