Doha, 29 April 2014: The former Q-Re LLC today announced that it has changed its legal name to Qatar Reinsurance Company LLC. Going forward Qatar Reinsurance Company LLC will trade as Qatar Re.
Gunther Saacke, CEO of Qatar Re said: "Over the course of the past 18 months our company has seen a fundamental transformation. We have significantly grown our book of business and established a global franchise with an emphasis on specialty lines. Our branding has to reflect this transition. We started off as a regional reinsurer. Going forward, our legal name and trade mark will highlight our roots in Qatar to which we owe one of our key competitive differentiators: an independent capital base, largely uncorrelated with global capital markets."
Qatar Re is in the process of developing and implementing a new visual identity, so its website, email addresses, bank accounts, stationary, etc. will also change. Qatar Re's legal and contractual obligations (originally underwritten by it as Q-Re LLC) will not, however, be affected by the name change.
About Qatar Re
Established in 2009 under the name Q-Re LLC, Qatar Re is a subsidiary of Qatar Insurance Company (QIC). It is headquartered in Doha, Qatar and is regulated by the Qatar Financial Centre Regulatory Authority (QFCRA). Qatar Re is backed by a full parental guarantee by QIC which is capitalised at approximately USD 1.5 billion. Rated "A/Stable" by Standard & Poor's and "A/Excellent" by A.M. Best and benefitting from QIC's strong and growing capital base, Qatar Re writes all major property, casualty and specialty lines of business. For further information on Qatar Re please visit www.q-re.com.qa.
About QIC
Qatar Insurance Company (QIC) is a listed composite insurer with an operating history of 50 years and an underwriting footprint across the Middle East, Africa and Asia. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. QIC operates in Qatar, the United Arab Emirates (Dubai and Abu Dhabi), Oman, Kuwait, and Malta. Today, QIC is a dominant insurer in Qatar.
QIC is one of the highest rated insurers in the Gulf region with a rating of "A/Stable" from Standard & Poor's and "A/Excellent" by A.M. Best. QIC is also the largest insurance company in the Arab region by premium income, profitability and capitalisation. It is listed on the Qatar Exchange with a current market capitalisation of approximately USD 3.4 billion. For further information on QIC please visit www.qatarinsurance.com.
Contact
Dr. Schanz, Alms & Company AG
Kai-Uwe Schanz
P: +41 44 256 1081
E: kai-uwe.schanz@schanz-alms.com
Henner Alms
P: +41 44 256 1082
E: henner.alms@schanz-alms.com
© Press Release 2014
