DIFC grants captive licence to Ma'aden to support its growth

Captive licence granted to Ma’aden, the largest multi-commodity mining and metals company in the Middle East

Ma'aden, one of the largest mining companies in the world, has been granted a captive license by the Dubai International Financial Centre (DIFC).

Captive insurance is a risk financing mechanism that enables a company to self-insure against future losses. By creating a licensed insurance company, the insured can retain risk in-house, manage difficult-to-insure exposures, and bridge gaps in their risk management programme.

The DIFC's captive license offers Ma'aden significant financial, strategic, and operational advantages. By establishing its own insurance company to cover its unique business risks, Ma'aden can benefit from profitable premiums that would typically go to commercial insurers. Establishing a captive at DIFC gives Ma’aden a strategic location where it can convene board meetings, access the DIFC’s reinsurance market and which is close to its headquarters in Saudi Arabia.

Arif Amiri, CEO of DIFC Authority, said: “As the region’s insurance hub, which includes captives, DIFC is looking forward to supporting Ma'aden in achieving its growth goals and helping them better control risks and reduce costs.”

Yaser A Barri, Chairman of Ma’aden Captive, Ma’aden Re Limited, said: “We look forward to establishing our presence in DIFC with the new captive licence. The Centre’s strategic location, modern business environment, and world-class services will support Ma’aden in achieving our growth strategy.”

With 17 mines and sites, and over 6,000 direct employees, Ma'aden is committed to developing the mining industry in line with Saudi Arabia's Vision 2030 and implementing responsible and sustainable practices.


Featured Articles

EU 2023 Figures show Mining has Stalled on GHG Emissions

European Union figures from Eurostat show that – although EU GHG emissions fell in 2023 – mining made no progress, with coal mining the worst culprit

Rio Tinto, not Anglo American, 'is BHP's Real Target'

As Anglo American restructures in face of takeover bid, experts believe BHP's real target is Rio Tinto, the world's second largest metals & minerals miner

Anglo American Rejects Latest BHP Bid for Copper Supremacy

As Anglo American rebuffs BHP Group's $42bn takeover bid we profile the huge Anglo-owned copper mines that BHP has in its sights

Investing in America Boost for US Critical Minerals Mining

Supply Chain & Operations

Australia Looks to Loosen China's Grip on Critical Minerals

Supply Chain & Operations

EY: Silver Miners' Sustainability & Supply Challenge

Smart Mining