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Reinsurance News

Qatar Re

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 to cease underwriting from Singapore branch

23rd July 2018

Qatar Reinsurance Company Limited (Qatar Re) has stated this morning that it will cease all underwriting operations from the reinsurers branch office in Singapore. The company said that as from July 20th 2018 Qatar Re has ceased underwriting both new and renewal business from Singapore branch office. Qatar Re said it will ... 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

Manik Sethi named CEO of Qatar Re’s Singapore branch

31st October 2017

Manik Sethi is to replace Micky Lee as Chief Executive Officer (CEO) of Qatar Reinsurance Company Limited's (Qatar Re) Singapore branch, effective November 13th, 2017. Sethi brings more than 11 years of insurance and reinsurance underwriting experience to the role, having worked for companies such as Zurich (Middle East) and RSA (Middle ... 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

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

Qatar Re reported bidding on UK motor insurer

12th June 2017

Sky News has reported that Bermuda domiciled reinsurer Qatar Re, part of the Qatar Insurance Company (QIC), has joined forces with another investor to make a £500 million bid for a UK motor insurance group. Qatar Re is reported to have aligned itself with U.S. based private equity investment ... Read the full article

QIC’s underwriting result down as reinsurance unit takes $31mn Ogden hit

27th April 2017

The Qatar Insurance Company (QIC) has revealed that Qatar Re, its reinsurance subsidiary, took an approximate $31 million profit hit in the first-quarter of 2017 as a result of the cut to the Ogden discount rate in the UK, resulting in a lower Group net underwriting result for the period. QIC ... Read the full article

Qatar General Insurance and Reinsurance to focus on real estate expansion

22nd March 2017

Qatar General Insurance and Reinsurance Company (QGIRCO) announced a strategic focus on real estate insurance expansion in an Annual General Assembly (AGM) meeting yesterday at Doha Mariott Hotel, Qatar. Addressing shareholders at the AGM, Chairman of QGIRCO, Sheikh Nasser bin Ali bin Saud Al Thani, said; "Our main objective is to ... Read the full article

Qatar Re capitalisation passes the $1 billion mark

15th March 2017

Bermuda domiciled reinsurance firm hailed the completion of its recent significantly oversubscribed $450 million perpetual bond debt issuance today, saying that it takes the reinsurers capital passed the $1 billion mark. Size still does matter in reinsurance, with some cedents continuing to tier their reinsurance panel based on factors such ... Read the full article

Qatar Re positioned well for growth after successful capital raise

9th March 2017

Bermuda headquartered Qatar Reinsurance Co. (Qatar Re), the reinsurance subsidiary of Qatar Insurance Co. (QIC), has said the successful completion of its significantly oversubscribed $450 million perpetual bond debt issuance positions it well for future expansion. The issue attracted more than 290 orders for more than $6.5 billion, oversubscribing by roughly ... Read the full article

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