Qatar Re suspends Dubai facultative business
Bermuda-based Qatar Reinsurance Company (Qatar Re) will suspend the writing of all new and renewing facultative business from its branch office in the Dubai International Financial Centre (DIFC) following a strategic review.
The company said its distribution throughout the MENA region will continue to be provided by the QIC Group’s existing operations in Doha, Dubai, Oman and Kuwait.
Gunther Saacke, Qatar Re CEO, said: “During the past year, Qatar Re - in conjunction with the wider QIC Group - has been carrying out a strategic review of its business with the objective of boosting underwriting profitability and operational efficiency and realising its strategic objectives. We remain committed to providing the highest levels of service to all our clients and broking partners across our global franchise.”
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