Warren Buffett makes Dubai business debut

Warren Buffett.

Warren Buffett, one of the top celebrity billionaires of the world, is making his long-awaited Middle East business debut in Dubai.
A business unit of the iconic global investor has opened an office in Dubai in a move to expand Buffett's Berkshire Hathaway footprints in the Middle East.
With a net worth of over $87 billion, the chairman and CEO of Berkshire Hathaway, also known as "The Oracle of Omaha" is currently the third-richest person in the world.
Soon after obtaining a licence from the Dubai Financial Services Authority, Berkshire Hathaway Specialty Insurance Company (BHSI) opened its office at Dubai International Financial Centre and appointed executives to head Middle East region and Third Party Lines.
BHSI said in a statement that the strategic location of Dubai as well as the stability and efficiency of the DIFC make it an ideal hub for BHSI to support economic growth in the region.
The company said it had hired Alessandro Cerase as senior executive officer and Neeraj Yadvendu as his deputy to oversee the Middle East foray aimed at winning over new clients. BHSI's other regional hubs include Hong Kong and Singapore as well as operations in Malaysia and Macau.
Alessandro will be leading First Party Lines for BHSI's broader Asia Middle East region, which includes BHSI's other regional hubs of Hong Kong and Singapore as well as its operations in Malaysia and Macau, the company said in a statement.
"We are excited to expand BHSI's footprint in this region which will service those markets in the Middle East and beyond who seek (re)insurance support in the DIFC. The strategic location of Dubai as well as the stability and efficiency of the DIFC make it an ideal hub for BHSI to support economic growth in the region. Our operation in the DIFC will bring BHSI's financial strength, and underwriting and claims excellence to the region," said Marc Breuil, president of Asia Middle East, BHSI.
"We are excited to be able to serve customers and brokers in the region under the experienced leadership of Alessandro and Neeraj."
BHSI will provide a suite of specialty and commercial (re)insurance products to its network of brokers and ceding companies with a focus on construction, energy, property, marine, casualty and executive and professional lines.
Alessandro comes to BHSI with 20 years of global experience spanning both the engineering and underwriting sides of the insurance business.
Neeraj joins BHSI after two decades in the insurance industry, most recently as regional head of Casualty and Financial Lines at AXA Asia.
BHSI provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop loss, and homeowners insurance.
- issacjohn@khaleejtimes.com