QIC Group announces progress on expansion

15-06-2017

QIC Group had announced that it has made further progress in the pursuit of its strategic objective to enhance its portfolio diversification and geographic expansion.

The company said that approximately 70 percent of QIC Group’s current premium income is now generated by its international franchise outside of the Gulf Cooperation Council region.

The company said that this diversification of business has been largely achieved through the group's Bermuda-based subsidiary Qatar Reinsurance Company. Qatar Re has expanded its footprint globally, with local offices in all major reinsurance hubs.

In addition, QIC Group said that it has succeeded in diversifying its underwriting portfolio through its Lloyd’s of London platform Antares which is located in the world's leading specialty lines insurance centre. The syndicate underwrites specialty insurance risks, contributing to QIC Group’s diversification by geography and line of business. In 2016 Antares joined the Lloyd’s China platform in Shanghai.

QIC Group also expanded its direct insurance activity in continental Europe through its subsidiary QIC Europe Limited (QEL), located and registered in Malta.

QIC Group, Qatar Re, Gulf Cooperation Council, EMEA, Bermuda

Bermuda Re