The latest compliance news: regulatory developments, punishments, guidance, permissions and authorisations for new product and service offerings.

Sun Life, DIFC, Dubai
Canada-headquartered Sun Life, which provides high net worth insurance solutions, is setting up operations in the Dubai International Financial Centre (DIFC) following authorisation from the Dubai Financial Services Authority.

The firm expects to start operations from its DIFC office this month. Its work in the jurisdiction is led by senior executive officer, Sameera Anand. 

“This expansion brings us closer to our partners in the region and reinforces Sun Life's position as a global leader in HNW insurance,” Sujoy Ghosh (pictured below), CEO, Sun Life High Net Worth, said. (His appointment was announced in late September.)

Sujoy Ghosh

His Excellency Arif Amiri, CEO of DIFC Authority said: “legal and regulatory clarity, tax efficiency and modern infrastructure give Sun Life confidence to grow their regional presence and access emerging markets from the Centre. Their global reach and strong financial strength rating will let the region’s HNW and UHNW clients secure and grow their wealth.”  

The firm has underwriting centres in Hong Kong, Singapore and Bermuda.