Rokstone, a leading International Specialty (Re)Insurance MGA within the Aventum Group, has secured a regulatory licence from the Dubai Financial Services Authority (DFSA), enabling it to broaden its footprint in the MENA region through a new office in the Dubai International Financial Centre (DIFC).
This strategic move allows Rokstone to capture regional business and extend its specialty risk solutions to regional carriers, marking a milestone in the company’s global growth.
Initially, Rokstone Dubai will focus on providing Specialty Risk solutions in Direct & Facultative Property, Construction, Aviation, Marine Cargo, and Surety. It aims to meet the increasing demand for insurance in the UAE and the broader MENA region, with plans to potentially introduce more products as the market evolves. Currently, a team of seven is in place, with anticipated headcount growth in the near future.
James Potter, CEO of Rokstone, expressed enthusiasm about the expansion:
“Dubai and DIFC offer a dynamic hub for reaching new markets. The favourable economic environment and demand for quality reinsurance underwriting make Dubai a strategic fit for our MGA model.”
He emphasized Rokstone’s unique value, combining specialist expertise with technology to support brokers and carriers in the region.
Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, welcomed Rokstone, stating,
“Rokstone brings valuable capacity and expertise to the MENA market. Their presence supports DIFC’s growth as a global (re)insurance hub, where MGAs now comprise over 40% of the sector.”
As one of the world’s largest MGAs, Rokstone underwrites over USD 1.1 billion across various specialty lines and is poised to make a substantial impact in MENA through its DIFC base.
News Source: Dubai Media Office
