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MECO Group sets up DIFC regulated entity

Shifts business from DMCC

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The MECO Group has launched The MECO Group (DIFC) Ltd. based in the Dubai International Finance Center.

The entity is licensed by the Dubai Financial Services Authority to carry out the activities of insurance management as a regulated entity.

This is a significant step in the development of the Group’s Dubai operations, which commenced six years ago as a DMCC (Dubai Multi Commodity Center) entity. The MECO Group DIFC will take over the business from the DMCC entity, which will now be wound up.

The regulated entity in Dubai will have a wider remit in handling and servicing clients in the Middle East/Asia Pacific region and provides a solid platform from which the Group can expand. The opportunities for growth are exciting and will be pursued fully once some form of normality returns.

Established in 1974, The MECO Group, headquartered in London, has key hubs in Dubai and Shanghai and is the Insurance Manager of specialised marine brands, Transmarine, the Charterers P&I Club and Carina. The Group’s highly experienced in-house team of maritime lawyers also provides trade and transport legal and advisory services under its True North brand.