Qatar Re
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William Malloy will serve as independent non-executive chairman at Qatar Re, following the retirement of Sunil Talwar.
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An underwriting loss at the international segment eclipses a profitable performance from MENA personal lines.
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The regulator, the Hiscox Action Group and seven carriers will seek leave on Friday to appeal the High Court judgment directly to the Supreme Court.
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The troubled group plans a reported 478 lay-offs despite accessing the Covid-19 government support scheme.
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The former head of financial institutions replaces John Taylor, who is leaving the business.
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The former Antares managing director spearheaded integration efforts after the Lloyd’s business was purchased by the Qatar carrier.
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The executive, who remains chief of Qatar Re, gains ultimate oversight of Lloyd’s business Antares.
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The ratings agency highlights considerable staff turnover, a fluctuating business strategy and soft market growth.
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The deal comes after S&P earlier this week lowered its outlook for Qatar Insurance Company over concerns surrounding the loan.
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Markerstudy is seeking third-party investors to repay a £240mn loan it owes to Qatar Re. -
The debtor sold the reinsurer Gibraltar-based affiliates last July.
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The net underwriting result held stable at $91mn.
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