Reinsurance News
Qatar Insurance Company
Qatar General Insurance names Al Efrangi as CEO
13th March 2019
The Qatar General Insurance and Reinsurance Company (QGIRCO) has announced the appointment of Hassan Ahmed Hassan Al Efrangi as Group Chief Executive Officer. The move sees Al Efrangi replace the recently-departed Ghazi Abu Nahl. He brings over 20 years’ experience in the financial sector and has extensive experience in leadership, performance improvement ... Read the full article
QIC’s net result improves in 2018 as cost-efficiency drive continues
4th February 2019
Qatar Insurance Company (QIC) has reported a non-life combined ratio of 101.3% for the full-year 2018, reflecting catastrophe losses experienced in its Qatar Re and Antares divisions. The firm notes a continued, unwavering commitment to improve cost efficiency, which includes the restructuring of its reinsurance retrocession programmes. Despite the impacts of ... Read the full article
Qatar Re CEO Gunther Saacke to step down this year
24th January 2019
Qatar Re, the reinsurance arm of Qatar Insurance Company (QIC), has announced that its Chief Executive Officer (CEO), Gunther Saacke, is to step down as CEO and Executive Director at the next Board meeting, which is scheduled for March 2019. The Board of Directors has said that it is with regret ... Read the full article
Florence & Jebi impacts push QIC’s 9M combined ratio above 100%
24th October 2018
Qatar Insurance Group (QIC) has reported its financial results for the first-nine months of the year, which reveal how the impact of both hurricane Florence and typhoon Jebi in September on its Qatar Re and Antares units pushed the group's combined ratio above 100%. QIC, a leading insurer and reinsurer in ... Read the full article
Qatar Re suspends facultative underwriting at Dubai practice
11th June 2018
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 ... Read the full article
QIC expands UK profile with Markerstudy Group acquisition
25th January 2018
Qatar Insurance Company (QIC) has acquired Gibraltar-based insurer Markerstudy Group through its reinsurance arm Qatar Re, subject to regulatory approvals. The acquisition of Markerstudy, which underwrites more than 5% of the U.K. motor insurance market, generating annual premiums of about £750 million, significantly expands the firm's UK profile, in line with ... Read the full article
Qatar Re approved to open new London branch office
11th January 2018
Qatar Reinsurance Company Limited (Qatar Re), the Bermuda based reinsurer of the QIC Group, has received its approvals to open a branch office in London, as it seeks expansion into the UK market. Both the Qatar Central Bank and the UK's Prudential Regulation Authority (PRA) have authorised Qatar Re to carry ... Read the full article
Qatar Re to acquire UK motor specialist Markerstudy Group Insurance
3rd January 2018
Qatar Reinsurance Company Limited (Qatar Re) said that it has reached and signed an agreement to acquire the Gibraltar-domiciled insurance companies of Markerstudy Group Insurance, a UK motor insurance specialist. The acquisition includes Markerstudy Insurance Company Limited, Zenith Insurance PLC, St Julians Insurance Company Limited and Ultimate Insurance Company Limited, all ... Read the full article
Qatar Insurance Company says recent catastrophes “limited to earnings”
23rd October 2017
Qatar Insurance Company (QIC), a leading insurer across Qatar, the Middle East and North African region and parent company to reinsurer Qatar Re and Lloyd's specialist Antares, said that third-quarter catastrophe impacts are limited to its earnings. Mr. Khalifa Abdulla Turki Al Subaey, Group President & CEO of QIC Group, explained; ... Read the full article
QIC’s underwriting income drops 40% on Ogden & large risk losses
25th July 2017
Qatar Insurance Company (QIC) has revealed that its net underwriting income declined by 40% in the first-half of 2017 when compared with the previous year, which the firm says was driven by large losses and the UK government's decision to lower the Ogden Discount Rate to -0.75%. QIC Group's net underwriting ... Read the full article
Antares promotes three to Lloyd’s managing agency board
28th June 2017
Antares, the Qatar Insurance Company owned Lloyd's of London managing agency, has announced some promotions and the appointment of three employees as new board members. The appointments have been made to "meet the evolving needs of the managing agency and promote internal talent," the company said. David Hobbs has been promoted to ... Read the full article
Reinsurance driving international growth at Qatar Insurance Company (QIC)
16th June 2017
Qatar Insurance Company (QIC) has highlighted the strong performance and growth of its reinsurance business, Qatar Re and its Lloyd's platform, Antares, as significant drivers of its international expansion and diversification. QIC's Board of Directors recently held its fourth meeting, chaired by Sheikh Khalid bin Mohammed bin Ali al-Thani, Chairman of ... Read the full article
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