Qatar Re Singapore CEO leaves, successor appointed

Bermuda-based Qatar Reinsurance Company (Qatar Re) said on Oct. 31 that it appointed Manik Sethi as CEO of its Singapore branch.

Effective as of Nov. 13, 2017, Sethi will succeed Micky Lee who has decided to pursue other opportunities outside of the company.

Gunther Saacke, Qatar Re’s CEO, commented: “I am pleased that Manik will take the helm at our Singapore branch. Since joining us in 2016 he has already made a valuable contribution to our business in his role as Global Head of Facultative Marine and has past experience of developing and enhancing new and existing portfolios of business and of managing culturally diverse underwriting teams. He is very well equipped to implement our strategic priorities for the Asia-Pacific region which include an increased focus on facultative business.

“Singapore is recognised as a highly sophisticated and innovative marketplace for reinsurance. As such, the Lion State plays an important role for Qatar Re as a regional hub. Under Manik’s leadership, we are keen to see our Singapore branch develop into a centre of excellence for Marine business.”

Sethi added: “I am excited to have the opportunity to take Qatar Re’s presence in Asia-Pacific to the next level. We remain fully committed to the region’s markets and the delivery of bespoke quality products as part an attractive service proposition to our clients in their time zone. From our branch in Singapore we will continue to offer a complete range of facultative and treaty products including property, engineering, construction, power, energy, casualty, credit & surety and marine.”

Qatar Re’s local presence in Asia dates back to early 2015 when the company opened a representative office in Singapore. The company now has a fully-fledged branch operation reflecting a strong commitment to its presence in Singapore. Supported by a strong legal and regulatory framework and by thorough analysis of the true value drivers in the market, the company will continue to grow and further diversify its portfolio of global risks, according to the statement.

Sethi has over 11 years of underwriting experience gained from working in various multinational insurers and reinsurers, including Zurich Insurance (Middle East) and RSA (Middle East). He joined Qatar Re in May 2016, initially as regional head of facultative marine and later as the team’s global head. His skillset spans both facultative and treaty business.

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