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May 2021

Qatar: Oman Re grows with new branch at QFC

Source: Middle East Insurance Review | Apr 2021

Oman Re, the sole reinsurer based in Oman, has launched its branch at the Qatar Financial Centre (QFC) in Doha to provide its regional clients with greater access to its underwriting expertise and capacity. The establishment of the branch follows the receipt of necessary regulatory approvals.
 
While business operations are expected to commence from the second quarter of this year, the new QFC branch will write facultative and treaty business from both local and dedicated international markets.
 
Oman Re has appointed Mr Bashar Abdulkhaleq Raoof, a seasoned insurance professional with rich experience in the regional and international reinsurance markets, as general managerto lead business operations at the QFC branch.
 
Over the past four years, Oman Re has made considerable progress by means of several strategic initiatives to strengthen its foothold in Oman and abroad, particularly the Afro-Asian markets.
 
Oman Re CEO Romel Tabaja said, “Despite the many challenges, we signed off the year 2020 on a positive note with growth in both revenue and technical profits. With our new QFC Branch, we aim to enhance our business profile, improve our proximity to clients and expand profitably.” M 
 
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