Qatar: Doha Insurance Group eyes offices in Beirut and London
Source: Middle East Insurance Review | May 2018
Doha Insurance Group is seeking to open representative offices in London and Beirut that will promote reinsurance business, including energy risks, life and medical insurance, pending official approvals from relevant authorities, company chairman Sheikh Nawaf Nasser Bin Khalid Al Thani has said.
He said there would be the possibility of converting representative offices to branches in future, if necessary.
He also said that Doha Insurance Group has obtained the final approval from Qatar Central Bank to transform its Islamic insurance branch – Doha Takaful – into a shareholding company with limited liability, reported Gulf Times.
“The articles of association of this company are being drafted along with obtaining a separate commercial registration for it,” Sheikh Nawaf said.
On Doha Insurance Group’s other plans, Sheikh Nawaf said the group’s investment in an IT company in Jordan will be supported and developed to enable it to grow in the software industry, including insurance software that partially meets the needs of the group, reducing the costs of such software and the risks to its operations.
The group’s management will develop its investment portfolio and diversify its assets, including increasing the share of bonds and sukuk, taking into account the expected increase in interest rates over the next year. M