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UAE – Global financial hub in the Middle East, Africa, and South Asia (MEASA) Dubai International Financial Centre (DIFC), has collaborated through its education platform DIFC Academy with Lloyd’s to develop future talent within the insurance and reinsurance market.
DIFC Academy and Lloyd’s, the world’s leading insurance market providing specialist insurance services to businesses in over 200 countries and territories, signed a memorandum of understanding (MoU) that builds on a longstanding partnership, according to a press release.
This will expand the Lloyd’s Academy’s reach, an education platform for risk professionals developed from London, to help support the development of a talent pipeline into the fast-growing Middle East region.
As part of the agreement, the DIFC Academy and Lloyd’s Academy will work together to organise a series of events, educational bootcamps and on-demand learning that support the drive for talent across the insurance industry.
Chief Operating Officer at DIFC Authority, Alya AlZarouni, said: “DIFC offers a world-class learning environment and guidance from renowned organisations to accelerate development of talent within the sector. We continue this legacy by expanding our existing relationship with Lloyd’s.”
AlZarouni added: “This initiative enables us to further develop a burgeoning sector in DIFC, representing more than 125 companies. Together, we foster industry growth while shaping the future of finance.”
From a global perspective, the insurance sector has a significant opportunity with respect to talent development.
The DIFC remains an ecosystem that fosters talent in the reinsurance industry by providing learning and mentorship opportunities through the DIFC Academy and developing a robust insurance community through non-profit organisations such as the DIFC Insurance Association.
Lloyd’s Chief Commercial Officer and CEO of Lloyd’s Americas, Dawn Miller, said: “Collaboration and partnerships lay at the heart of Lloyd’s value proposition, and our market has stood the test of time because of the talented individuals and firms that continue to participate.”
Miller noted: “The MOU between the Lloyd’s Academy and DIFC, to drive forward talent development and industry wide education is another step forward on this journey. I look forward to our continued work in the Middle East and helping the development of a talent pipeline into the fast-growing region.”
In 2019, DIFC signed MoU with Lloyd’s to fuel the region’s insurance sector by upskilling talent, as well as promoting sectoral efficiency and improvement.
DIFC Academy has catered to the learning needs of the financial services industry by providing an accessible platform for top-ranked educational institutes.
To date, DIFC Academy has delivered professional development certifications and higher education courses for 32,000 graduates since inception.
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