A managing general agency in the Middle East, in a joint venture, will be started by Validus Holdings Ltd.

Wednesday, Hamilton, Bermuda-based Validus said in a statement: "Underwriting Risk Services (Middle East) Ltd. is a joint venture between Validus subsidiary Talbot Holdings Ltd., which operates Lloyd's of London Syndicate 1183, and Abu Dhabi National Insurance Co. in Abu Dhabi, United Arab Emirates."

Later this month, the new MGA offering facultative reinsurance is expected to start operations in Dubai. The new facility will most likely operate from the Dubai International Financial Center.

The CEO of the MGA is Samir Abdul Ahad, deputy chief executive officer of Abu Dhabi National Insurance.