Amwal, Doha Insurance sign pact |
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Doha - AmwalAmwal
, one of the major investment banking and asset management firms in Qatar, has signed an agreement with Doha InsuranceDoha Insurance to share expertise in insurance-related activities, such as corporate medical insurance, life insurance and other related products. AmwalAmwal's Chief Executive Officer, Dr Laurent Lavigne du Cadet, and Doha InsuranceDoha Insurance General Manager, Bassam Hussein, signed the agreement.
During the last two years, AmwalAmwal has gained a solid market share in Employee Benefits business including corporate medical and life and pension schemes through a broad range of onshore and offshore products from some of the most prestigious names in the financial services industry, offering tailor-made solutions to its corporate clients.
Dr Laurent Lavigne du Cadet said: "Niche insurance products like corporate medical and life insurance are fast growing market segments in Qatar. To address the growing demand for quality and trusted insurance products from our extensive clientele, it is imperative to offer them the choice of association with renowned insurance companies. Doha InsuranceDoha Insurance has long-standing trust and affinity in the local market and our partnership will bring new synergies that will benefit both companies." Hussein said mutual cooperation, involving partners with proven strengths, is the way forward in the fast-growing insurance sector in Qatar.
"Doha InsuranceDoha Insurance has built its credibility over the years through our commitment to customers, and our partnership with AmwalAmwal will be of immense benefit in reaching out to a wider audience," he said. "With this agreement, AmwalAmwal and Doha InsuranceDoha Insurance will share their expertise and capabilities in insurance-related work, improve the efficiency of customers services, set up quality standard in after sales services, two key areas for long term loyalty, and expand their product range for both international and local coverage."
Qatar's insurance sector has gained rapid strides in the past two years with gross premiums reportedly gaining 50 to 60 percent annually, presenting a robust growth opportunity for AmwalAmwal and Doha InsuranceDoha Insurance.
© The Peninsula 2008
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