Qatar Reinsurance Co. Ltd. (Qatar Re) has announced it will suspend the writing of all new and renewing facultative business from its branch office in the Dubai International Financial Centre.
However, facultative coverage will continue to be provided by the QIC Group’s other operations, the company explained in an emailed statement.
As the largest S&P ‘A’-rated Insurer in the MENA region, QIC Group is fully committed to servicing the region “from its hubs in Dubai, Oman and Kuwait as well as from Doha and where applicable through its wholly owned Lloyd’s Syndicate Antares,” said the company’s statement.
“During the past year, Qatar Re 鈥� in conjunction with the wider QIC Group 鈥� has been carrying out a strategic review of its business with the objective of boosting underwriting profitability and operational efficiency and realizing its strategic objectives,” said Gunther Saacke, Qatar Re’s CEO. “We remain committed to providing the highest levels of service to all our clients and broking partners across our global franchise.”
Source: Qatar Re
Was this article valuable?
Here are more articles you may enjoy.
AM Best Upgrades Credit Ratings of Missouri’s Columbia 
How Insurers Know When It’s Time to Scale AI 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
