Specialist insurance and reinsurance group Fidelis Partnership (TFP) has signaled its intention to deepen and expand its partnerships in the Middle East.
Following a high-level management visit to the region, the reinsurer stressed that a continued physical presence is critical to navigate the region’s current economic and geopolitical volatility.
TFP believes direct market dialogue is critical to understanding real-time developments and the changing needs of clients operating in complex risk environments.
The Group has strong, ongoing partnerships across the Middle East, working actively with a variety of key stakeholders including brokers, insurance companies and reinsurers.
Notably, the group has established a strong trading relationship with Saudi Reinsurance over the past 18 months.
The visit was led by TFP Vice Chairman Charles Mathias and Head of Crisis Management Billy Ayres, and was conducted in conjunction with Fidelis MEASA CEO and COO Youssef Al Kareh and Fidelis MEASA Executive Chairman Matt Warren from TFP’s Abu Dhabi Global Markets team.
Charles Mathias, deputy chairman of Fidelis Partnership, said: “The Middle East is a core part of our high-growth markets strategy and we believe in directly engaging, listening and supporting our partners and customers.
“This is a complex and rapidly changing environment and our priority is to work alongside clients and brokers to understand the issues they face and deliver solutions that meet their needs.”
The core pillar of TFP’s regional strategy is Fidelis MEASA (Middle East, Africa and South Asia). Located in Abu Dhabi Global Market (ADGM), the center will be licensed in 2024 and fully operational in 2025/2026
The Abu Dhabi office is led by Matthew Warren as Executive Chairman of Fidelis MEASA (Middle East, Africa, South Asia) and Youssef Al Kareh as CEO and CUO.
One year after launch, Fidelis MEASE has delivered strong growth, contributing US$88 million to TFP Group’s 2024 gross written premium (GWP) of US$4.6 billion.
Since its launch, Fidelis MEASA has played a key role in strengthening TFP’s presence and relationships in these high-growth markets, underscoring the importance of the region in accelerating its group-wide BRIC+ strategy.
“TFP continues to view the UAE and Saudi Arabia as central to its long-term ambitions in high-growth markets. The group expects further high-level visits in the coming weeks as it maintains close ties with partners and strengthens its commitment to supporting the region during a period of heightened geopolitical and economic stress,” the re/insurer said.
