AXA Insurance, one of the region's largest international insurers is looking to extend its Gulf operations to Qatar and is currently applying for a commercial license to establish its presence in the country.
The establishment of AXA Insurance in Qatar will further strengthen its growth in the Gulf. The company looks forward to working closely with the QFC authorities to forge strong ties with Qatar's already growing corporate world.
Says Richard Morrison, Country Manager for Bahrain who is coordinating with QFC, "QFC provides an unique environment and world class infrastructure. The new financial community will provide a wealth of opportunities and synergies for bringing new businesses and services to the region and we hope to be part of this growing corporate community."
Says Andrea Rossi, newly appointed CEO of AXA Gulf, "Our experience in structuring our international products to suit local market needs gives us the advantage to provide competitive products & services to the Qatari market"
AXA Insurance provides individual covers like Motor Perfect, Healthcare, Home Comfort, Travel Smart, Sail Master, Golf Mulligan and Relocation Plus. They also provide Corporate Insurance Solutions for Office, Commercial, Marine and Health.
-Ends-
About AXA in the Gulf
AXA in the GCC, with a workforce of over 350 employees, 11 offices region-wide, a substantial customer base and a premium income of over US$180 million, is a major international insurer in the Middle East offering a wide range of insurance products and services for corporate and individual customers.
About Qatar Financial Centre
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC operates to international standards and provides a first class legal and business infrastructure for those licensed to operate by the Centre. The QFC was created by Qatar Law No.(7) and has been open for business since 1 May 2005.
QFC Regulatory Authority
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorize, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modeled closely on that used in London and other major financial centers. The Regulatory Authority is currently receiving applications and granting authorisations.
QFC Authority
The QFC Authority is the commercial, administrative and legislative body responsible for driving the commercial strategy of the QFC and for developing relationships with the global corporate community and other key institutions both within and outside of Qatar.
For additional information on AXA please contact:
Lianne Braganza-D'Sylva
Asst. Gulf Marketing Manager
Tel +971 4 324 3434/ +971 4
lianne.dsylva@axa-gulf.com
www.axa-gulf.com
For additional information on Qatar Financial Center please contact:
Steve Martin
Head of Corporate Communications and Marketing
Qatar Financial Centre Authority
Tel +974 4945466
Fax +974 4830928
Mob +974 5831937
s.martin@qfc.com.qa
www.qfc.com.qa
© Press Release 2006
