Global News: Qatar Re re-domiciles to Bermuda from Doha
Source: Asia Insurance Review | Oct 2015
Qatar Re, a subsidiary of Qatar Insurance Company, has announced that it will move its seat of incorporation from the Qatar Financial Centre to Bermuda by the fourth quarter of this year, subject to regulatory approvals.
Qatar Re CEO Gunther Saacke said the move was firstly, to consolidate its capital with its existing Bermuda incorporated reinsurer, Antares Reinsurance, and secondly, to move the business closer to its clients.
Once it has merged with Antares Reinsurance, Qatar Re’s capital base will increase to approximately US$500 million. The firm also said it aims to maintain a presence in the Qatar Financial Centre by establishing a branch office and will continue to operate its existing office in Zurich and representative offices in London and Singapore. Another office based in the Dubai International Financial Centre is awaiting regulatory approval.