ADNIC established its International Division in March 2015 creating a dedicated team of underwriters to focus on facultative reinsurance business emanating from Middle East and North Africa.
The core objective of the International Division is to develop a profitable and sustainable commercial lines portfolio, which is well diversified across regions and products.
In Q4 2016, ADNIC’s International Division has expanded its risk appetite and commenced writing commercial lines of business on global basis excluding a limited number of countries*.
The following classes of business are currently being underwritten by International Division
- Energy (Upstream and Downstream)
- Property (Commercial and Industrial risks)
- Engineering and Construction
- Marine Hull & Cargo
- Liabilities and financial lines (for risk based MENA region only)
Regions that are currently within our risk appetite are:
- Middle East
- Central and Eastern Europe
- CIS Countries
- Latin America
- Russia (subject to Sanctions)
(* Excluded territories : USA, Canada, Mexico & GoM, Caribbean Islands, Western Europe incl. UK & North Sea, Japan, Australia and New Zealand)
International Division is not a separate legal entity. It is part of ADNIC sharing the credit rating ‘A-’ with stable outlook from S&P.
Please click here to access the risk appetite document of International Division. It is specifically designed for our business partners for their ease and better understanding of ADNIC’s underwriting philosophy and appetite. Contact details of respective underwriters and capacity we offer for various lines of business are also mentioned therein.
International Division is based in Dubai: Unit 804, Maze Towers, Opposite DIFC.