Zafar Vokhidov, CEO of RB Jones DIFC
Just over 20 years after the Dubai International Financial Centre (DIFC) opened its doors, the financial hub remains resilient following recent geopolitical uncertainty and remains poised to take on a much more influential role in the global insurance market. Long positioned as a regional centre, it is becoming a base of genuine underwriting authority for complex reinsurance risks across the Middle East, Africa and South and Central Asia (MEASA).
Decision-making is moving closer to the risk, driven by scale, complexity and the need for speed. RB Jones’s decision to launch in the Centre is a deliberate response to this shift – and a long-term play.
Construction, property and energy risks across MEASA are relationship-driven, technically complex and highly contextual. Understanding contractor behaviour, regulatory nuance, project finance structures and claims culture is much easier when you’re on the ground and embedded in the market.
A market defined by scale and complexity
The attraction lies not in short-term market cycles, but in the scale of investment now underway. Across the MEASA region, infrastructure and development programmes are reshaping economies and, by extension, reinsurance demand. Major transport hubs, mixed-use developments, energy transition projects, logistics assets and data centres are being planned and built at pace.
The past five to ten years have transformed the project landscape in the region. Projects that were once smaller and more bite-sized have given way to $1 billion-plus risks. Renewable energy has surged. And given the events of 2026 so far, there is now a much greater focus on protecting against political risks, supply chain disruptions and geopolitical shocks, as well as natural catastrophes.
Insurance penetration across the region remains low compared with more mature economies – and here, RB Jones sees opportunity.
Participation in this market requires a serious, long-term commitment. We have no intention of chasing volume from day one. Instead, we’re focused on building a platform with the underwriting discipline and governance to support our long-term growth in the region.
The DIFC: a clear regional alternative
RB Jones’ establishment in the DIFC reflects a broader shift in how reinsurance is being accessed in the region. Where programmes were once routinely placed through London or Europe, brokers are increasingly looking to place meaningful portions of their clients’ risks locally – provided they have access to reliable, high-quality underwriting authority.
In the DIFC, the RB Jones team are empowered to make decisions locally, sit across the table from brokers and cedants, visit sites and engage directly with regulators and advisors. That fundamentally changes the quality and the speed of the underwriting we can provide.
The DIFC’s legal and regulatory framework is also a key attraction, with a well-established, internationally-recognised and independent regulator operating under common law principles. At the same time, the local insurance market has reached depth to support specialist reinsurance platforms, with more than 150 insurance-related entities operating in the region, growing access to capital and an increasingly international talent pool.
The concentration of capital in Dubai, combined with regulatory credibility and access to talent, makes a very compelling business case for establishing a presence here for the long term.
Playing the long game
From launch, RB Jones will primarily operate as follow capacity, a role where technical judgment, speed and consistency are often as valuable as lead capacity.
When brokers come to us with difficult risks, they’re looking for solutions. Saying yes or no is easy; what matters is the engagement, the speed and the judgement behind the decision and the ability to sustain that position through placement.
RB Jones will offer meaningful capacity , provided by empowered local decision-makers and supported by A-rated capacity providers, led by Munich Re.
People often talk about headline capacity, but in practice, average working lines are much smaller. With the available capacity at the disposal of our experienced team we can lead when appropriate and meanwhile remain an influential follow market across a broad range of placements.
Our launch in the DIFC reflects where underwriting authority is heading, as the centre of gravity in global insurance continues to shift. Risk origination is increasingly global, and underwriting capability needs to follow that reality.
Dubai has evolved from a servicing centre into a strategic hub with demonstrable resilience against short-term, unexpected events. For us, establishing a platform here is about relevance over the next decade and beyond, not the next market cycle.
This article is for informational purposes only and does not constitute an offer to transact insurance or reinsurance business.