Dubai: Warren Buffett’s commercial insurance unit is expanding into the Middle East as it seeks to win over new clients in the region.
Berkshire Hathaway Specialty Insurance Co said it hired Alessandro Cerase as senior executive officer and Neeraj Yadvendu as his deputy, according to a statement.
The insurer set up an office in Dubai International Financial Centre. The financial centre is the Arabian Gulf business hub and home to the regional offices of global banks such as JPMorgan Chase & Co, Goldman Sachs Group Inc and Citigroup Inc.
Berkshire Hathaway Specialty Insurance’s other regional hubs include Hong Kong and Singapore as well as operations in Malaysia and Macau.
Cerase, who was previously global head of energy and engineered risk at American International Group Inc, will be leading first party lines for BHSI’s Asia Middle East region. Yadvendu most recently was regional head of casualty and financial lines at AXA Asia, and will head third-party lines for the Middle East at BHSI.