Editorial: Insurance & Reinsurance in the UAE
01 August 2008
The UAE insurance and reinsurance market has enjoyed sustained growth in recent years, and is today among the largest in the Middle East.
With recently published government figures charting a huge growth in demand for insurance work, fuelled by the expansion of the construction and shipping sectors, the market looks set to remain healthy well into the next decade. Our research found eight attorneys who stand out from the crowd in this highly competitive and diverse marketplace.
Placing three professionals in this chapter, Clyde & Co LLP emerges as the leading insurance and reinsurance firm in the UAE. Rightly praised as "a leader", Wayne Jones from the firm's Abu Dhabi office came top in our research. Jones's recent engagements include leading the Dubai Government Health Insurance Committee's compliance and regulatory task force, advising the first licensed insurance broker in the Qatar Financial Centre and representing the insurers in a litigation between a major UAE bank and agents in India. Keeping Jones company on our shortlist is his colleague the "excellent" Alec Emmerson; his clients are widely distributed throughout Europe and the Middle East, and encompass the shipping, construction and energy industries. Completing the firm's unrivalled showing in this chapter is Christopher Mills, whose commercial litigation and arbitration work for insurers is particularly well recognised, and who recently handled the insurance claims case for the largest ever non-petroleum fire in the Middle East. With offices in Abu Dhabi, Dubai and Doha housing an 80-strong Middle East unit, the firm is among the most powerful in the region, as one respondent said: "it is great to have the firm in your corner; the real test is when they are on the other side of the table."
Holman Fenwick Willan opened its Dubai office in 2006 and has quickly established itself as a major force in the UAE, as the two lawyers listed in this section demonstrate. Michael Pilkington is well recognised for his non-marine insurance and reinsurance work and has built a "great reputation" in recent years for several high-profile international recovery cases. Accompanying him is shipping expert Edward Newitt who focuses mainly on dispute resolution arising from fire and explosion, groundings, total loss and salvage cases.
The "superb" C Chakradaran of Afridi & Angell also appears in this chapter. He has been practising in Dubai for nearly 30 years and has gained renown throughout the Middle East and Asia, in particular for his work for sole insurers and reinsurers, and numerous dispute resolution cases.
Graham Lovett is the managing partner of Clifford Chance LLP's well established Dubai office. Lovett is considered "an expert" in commercial litigation and arbitration within the insurance, finance and banking industries, and he also boasts an impressive list of IT and construction clients.
Ince & Co's insurance practice has gained international renown with high-profile clients such as Lloyd's of London regularly using their services. Managing partner of the Dubai office, Bob Deering focuses primarily on marine insurance, handling cargo recovery, defence and personal injury cases, and also gains recognition for his arbitration work.