Reinsurance News
Qatar Re
Qatar Re names William Malloy Chairman of the Board
15th July 2021
Multi-line reinsurer and Qatar Reinsurance has appointed William Malloy to succeed Sunil Talwar as Independent Non-executive Chairman. Malloy is expected to join the Board in September 2021 subject to regulatory approval. He brings with him 26 years of leadership experience in the insurance industry, spending more than 10 years with AIG serving ... Read the full article
Papachristou takes Gibraltar CEO role at Qatar Re
3rd December 2020
Qatar Reinsurance Company Limited (Qatar Re), the global multi-line reinsurer and subsidiary of QIC Global, has announced the appointment of Dimitris Papachristou as CEO of its Gibraltar companies, effective immediately. In this role, Papachristou will oversee the operations of Zenith Insurance Plc, Markerstudy Insurance Company Limited, and St Julians Insurance Company ... Read the full article
Qatar Re & international carriers continue to expand for QIC in 2019
6th August 2019
Qatar Insurance Company's (QIC) international carriers, including its reinsurance arm Qatar Re, continued to expand in the first-half of 2019 and now account for around 75% of the group's total gross written premiums (GWP). At approximately $1.8 billion, QIC's GWP remained stable in the first-half of 2019 when compared with the ... Read the full article
Qatar Re confirms Michael van der Straaten as permanent CEO
26th April 2019
Qatar Re, the reinsurance arm of Qatar Insurance Company (QIC), has announced the confirmation of Michael van der Straaten as the company’s permanent Chief Executive Officer (CEO). Van der Straaten was appointed as acting CEO in January 2019 after it was revealed that the former head of Qatar Re, Gunther ... 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 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