Qatar Re appoints Michael van der Straaten as new CEO

Bermuda-based Qatar Re, a subsidiary of Qatar Insurance Company (QIC), has confirmed the appointment of Michael van der Straaten as its chief executive officer (CEO).

Van der Straaten was appointed acting CEO of Qatar Re earlier this year, following the departure of Gunther Saacke.

Van der Straaten joined Qatar Re in late 2016. In February 2017, he was appointed chief underwriter office - long tail & speciality classes and joined Qatar Re’s executive management committee.

He will be replaced in his CUO – long tail & specialty classes role by Pantelis Koulovasilopoulos, who formerly served as deputy CUO of the unit.

Sunil Talwar, chairman of the board of directors of Qatar Re, said: "We are pleased to announce that Qatar Re has decided to appoint Michael van der Straaten as CEO. Mike has fitted seamlessly into the position, building on his achievements as our former chief underwriter for Long Tail and Specialty Classes. We are convinced that Mike will bring Qatar Re’s ongoing transition to a business model based on lower volatility and more reliable profitability to a successful conclusion.”

Van der Straaten commented: "I am excited to take the helm at Qatar Re at a time when our company is increasingly generating its own business from market segments that we understand thoroughly. We embarked on this course more than two years ago and are starting to reap the benefits. Our expertise in these areas is obviously a major boon for us against the backdrop of stubbornly tough trading conditions in global (re)insurance. I am looking forward to working with the Qatar Re team towards positioning our firm as a profitable enabler of innovative and entrepreneurial business models in insurance.”

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