The MECO Group sets up new regulated entity in Dubai’s DIFC
The MECO Group is pleased to announce the launch of The MECO Group (DIFC) Ltd (“The MECO Group DIFC”), based in the Dubai International Finance Centre (‘DIFC’).
On 16th March 2020 The MECO Group DIFC, was licensed by the Dubai Financial Services Authority to carry out the activities of Insurance Management as a regulated entity.
This is a significant step in the development of the Group’s Dubai operations, which commenced 6 years ago as a DMCC entity. The MECO Group DIFC will take over the business from the DMCC entity, which will now be wound up.
The existing Dubai team has relocated to new offices in the DIFC. For the time being its business as usual, although due to the current Covid-19 Pandemic most of the Dubai team is currently working from home.
The regulated entity in Dubai will have a wider remit in handling and servicing clients in the Middle East/Asia Pacific region and provides a solid platform from which the Group can expand. The opportunities for growth are exciting and will be pursued fully once some form of normality returns.
Established in 1974, The MECO Group, headquartered in London, has key hubs in Dubai and Shanghai and is the Insurance Manager of specialised marine brands, Transmarine, the Charterers P&I Club and Carina. The Group’s highly experienced in-house team of maritime lawyers also provides trade and transport legal and advisory services under its True North brand.
Contact details for the new DIFC operation are on the website www.themecogroup.co.uk
For further information please contact Christopher Else
+44 20 7680 4921
2 April 2020