H.W. Kaufman Group, a global privately-held specialty insurance organization, has appointed Hasan Fardan Al Fardan as the non-executive chairman of Burns & Wilcox MENA, the company announced. The appointment supports the company’s plans to expand operations in Dubai and across the United Arab Emirates.
In his role, Al Fardan will work alongside Kaufman co-president Jodie Kaufman Davis and Kaufman International CEO Paul Greensmith.
“Hasan is highly adept at navigating the regulatory environment in the UAE and widely respected for his role as a board member across a portfolio of multinational corporations,” Kaufman Davis said. “Hasan’s deep relationships and broad network will be pivotal in executing our substantial growth plans for Burns & Wilcox MENA and further unlocking a multitude of new business opportunities.”
According to a news release, Al Fardan is the CEO of Al Fardan Exchange, part of his family’s business portfolio. He has experience in investment strategy, real estate, corporate restructuring, and financial services. He earned a bachelor’s degree in finance with a minor in economics from Richmond American University in London and a master’s degree in real estate finance and investment from the University of Reading’s Henley Business School in the UK.
H.W. Kaufman Group’s network includes Burns & Wilcox, Atain Insurance Companies, RB Jones, and H.W. Kaufman Group International.
Burns & Wilcox MENA was established in 2024 as Kaufman’s first office in the UAE. The company plans to expand to Abu Dhabi and is developing regional broking partnerships in surrounding markets. Burns & Wilcox MENA is also pursuing regulatory approval to operate on a reinsurance basis within the Dubai International Financial Centre.
The announcement comes as the insurance sector in the United Arab Emirates recorded a significant increase in return on investment (ROI) over the past year, more than doubling compared to the previous period, according to a report from Statista in May. This rise marks a steady upward trend in ROI over the last three years.
Despite this growth, total income for UAE-based insurance companies declined in 2022, falling to AED 1 billion. This figure reflects a decrease of approximately 17% in income compared to the previous year.
Forecasts indicate that the UAE insurance industry is expected to grow at a compound annual growth rate (CAGR) of 4.1% between 2021 and 2026.
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