Manulife has officially opened its new office in the Dubai International Financial Centre (DIFC), marking a significant step in its global expansion strategy for its High-Net-Worth (HNW) business. This move makes Manulife the first international HNW insurer in DIFC to operate with a Category 4 license, allowing it to advise on and arrange life insurance contracts tailored to the growing needs of wealthy clients across the Middle East.
The new DIFC office will serve as a regional hub, strengthening Manulife’s presence in the Middle East and reinforcing its commitment to delivering specialised insurance solutions to HNW and ultra-high-net-worth (UHNW) individuals.
Jean Wong, CEO of Manulife Global High-Net-Worth, stated, “The Middle East is integral to the global growth strategy for our HNW business. Establishing our new office in DIFC not only enhances our presence and capabilities but also connects us with a dynamic network of wealth managers, family offices, and innovators. This office is a gateway to providing our HNW and UHNW clients with innovative products and personalised experiences.”
Backed by over 20 years of experience, Manulife Global HNW brings together expert teams from Bermuda, Hong Kong, and Singapore. The business offers customised protection and savings solutions and serves clients in over 150 countries through its international HNW brokerage channel.
The global market for HNW and UHNW individuals holds nearly US$80 trillion in wealth, which is expected to grow by 38% in the next five years. Manulife’s entry into DIFC strategically positions the company to capitalise on this expansion, while meeting the increasing demand for advanced wealth accumulation, legacy planning, and risk management solutions in the region.
Arif Amiri, CEO of DIFC Authority, commented, “We are delighted to welcome Manulife to DIFC, the Middle East, Africa, and South Asia’s leading global financial centre. Manulife’s decision to establish its new office in DIFC underscores our position as the region’s only hub for insurance and reinsurance, offering an unmatched strategic advantage for global insurers seeking proximity to emerging markets.”
DIFC has emerged as the leading regional hub for insurance and reinsurance. By the end of 2024, it hosted 125 firms across the sector, including global insurers, reinsurers, brokers, captives, MGAs, Lloyd’s service companies, consultancies, compliance firms, and risk management organisations—all leveraging DIFC’s strategic location for expansion into high-growth markets.
