Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, has granted a captive licence to Ma\u2019aden, the largest multi-commodity mining and metals company in the Middle East, and one of the top five largest mining companies in the world based on market capitalisation.<\/p>\n
Ma\u2019aden is among the fastest-growing mining companies in the world, with 17 mines and sites and 6,000 direct employees. Ma\u2019aden is developing the mining industry in alignment with Saudi Arabia\u2019s Vision 2030 and aims to be a role model in responsible and sustainable operations.<\/p>\n
Captive insurance is a risk financing mechanism that a company uses to insure itself against future losses. In a captive insurance arrangement, the insured brings its risk in-house by creating a licensed company that provides insurance to its parent organisation.<\/p>\n
The DIFC\u2019s captive licence will provide Ma\u2019aden with financial, strategic and operational benefits. By forming its own insurance company to protect against its unique business risks, Ma\u2019aden can manage difficult-to-insure risk exposures, cover gaps in its risk management programme and capture profitable premiums that would otherwise be paid to commercial insurers.<\/p>\n
DIFC provides an optimal environment for captives, helping firms take complete control of their risks while gaining greater financial flexibility and protection. Establishing a captive at DIFC gives Ma\u2019aden a strategic location where it can convene board meetings, access the DIFC\u2019s reinsurance market and which is close to its headquarters in Saudi Arabia.<\/p>\n
Arif Amiri, CEO of DIFC Authority<\/strong>, said: \u201cAs the region\u2019s insurance hub, which includes captives, DIFC is looking forward tosupportingMa’adenin achieving its growth goals and helping them better control risks and reduce costs.\u201d<\/p>\n Yaser A Barri, Chairman of Ma\u2019aden Captive, Ma\u2019aden Re Limited<\/strong>, said:\u201cWe look forward to establishing our presence in DIFC with the new captive licence. The Centre\u2019s strategic location, modern business environment, and world-class services will support Ma\u2019adenin achieving our growth strategy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, has granted a captive licence to Ma\u2019aden, the largest multi-commodity mining and metals company in the Middle East, and one of the top five largest mining companies in the world based on market capitalisation. Ma\u2019aden […]<\/p>\n","protected":false},"author":1,"featured_media":54120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-54119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/54119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=54119"}],"version-history":[{"count":2,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/54119\/revisions"}],"predecessor-version":[{"id":54122,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/54119\/revisions\/54122"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/54120"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=54119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=54119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=54119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}