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.
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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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The Doha-based company pins the better result on a decision to avoid volatile segments.
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The executive has been acting CEO since January, when Gunther Saacke announced his intention to step down.
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The MGA has also gained 9000 series coverholder status.
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A shift to lower volatility classes propels underwriting profit.
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Qatar Re-backed Marketstudy is expected to acquire the Co-op's CIS General Insurance in the second quarter.
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The pair will underwrite upstream and downstream energy risks.
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The move follows the insurer’s decision to exit the market in Dubai late last year.
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Rate increases remain elusive, says CEO Al Subaey.
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Insurers that have started fixing what’s broken early and rethinking what it’s worthwhile writing and from where may be better placed than those watching and waiting.
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Adverse reserve development pushed the carrier's combined ratio over the 100 percent mark.
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The company has decided to cease writing new and renewal business from its Singapore branch.
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