AES International gets first licence in Dubai
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AES International has gained its first licence to operate in Dubai following the acquisition of City Life Insurance Brokers LLC in the United Arab Emirates.
The new entity which is licensed by the UAE Ministry of Economy and Insurance Authority will be re-named AES Middle East Insurance Brokers LLC.
Managing director Sam Instone says the firm will use the new base to export UK standards of financial planning, post-RDR professionalism and compliance into the region.
He says: “There is a widespread perception that the Middle East and Dubai in particular is some way behind the European market in terms of TCF, training and competency, systems and controls and underlying business model. The first appointed representative has already signed up to our service package which is designed to allow other financial services businesses to leverage our technology, expertise, economies of scale and resources in order to get better outcomes for end customers and their own businesses alike.”
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