Axis is to open an office in Dubai, it was revealed yesterday.

Axis Capital Holdings’ Axis Re SE has been licensed by the Dubai Financial Services Authority to open up shop in the emirate’s International Financial Centre.

The new office will focus on marketing accident and health specialty reinsurance in both the Middle East and Africa.

Axis Re SE is a composite reinsurance company based in the Republic of Ireland and is authorised by the Central Bank of Ireland to carry on non-life and life reinsurance business.

Axis Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity of nearly $5.6 billion, with locations on the Island, the US, Europe, Singapore, Canada, Australia and Latin America.