NU Online News Service, March 26, 3:11 p.m.EST

Lockton brokerage said that it has been granted a license by theDubai Financial Services Authority to operate in the DubaiInternational Financial Centre.

The Kansas City, Mo.-based firm said the opening of the Dubaioffice represented its first footsteps into the Middle East andNorth African region, with further expansion planned for thefuture.

Dubai will be the regional hub for the region and will operateas a treaty and facultative reinsurance operation, serving theneeds of regional insurance companies, the company said.

The office will be equipped to handle all classes of businessbacked by the support of the firm's wholesale operations in Londonand other locations, Lockton said.

Wael Khatib, who has been appointed president, Lockton Dubai,will manage the operation.

Julian James, chief executive officer of Lockton International,said, "We are pleased to announce this news, which reflects ourlong term commitment to enhance our presence in the region anddesire to be closer to our clients. The new Dubai office willfurther improve the levels of service that our clientsdeserve."