Qatar Re, the Bermuda-based reinsurer and subsidiary of Qatar Insurance Company (QIC) Group, has suspended the writing of all new and renewing facultative business from its branch office in the Dubai International Financial Centre.
Facultative reinsurance will continue to be distributed throughout the Middle East & North Africa (MENA) region by QIC Group’s existing operations in Doha, Dubai, Oman, and Kuwait.
Gunther Saacke, Chief Executive Officer of Qatar Re, commented: “During the past year, Qatar Re – in conjunction with the wider QIC Group – has been carrying out a strategic review of its business with the objective of boosting underwriting profitability and operational efficiency and realising its strategic objectives.
“We remain committed to providing the highest levels of service to all our clients and broking partners across our global franchise.”
Headquartered in Bermuda, Qatar Re also has branch offices in London, Zurich, Singapore, and the Dubai International Finance Centre, from which it writes all property, casualty, and specialty lines of business.
