Q-Re’s Board of Directors announced the appointment of Gunther Saacke as the reinsurer’s new CEO, leading “a team of senior and well-known reinsurance professionals in order to transform Q-Re into a global multi-line reinsurer with a focus on specialty lines.”
The bulletin said the new CEO and his team “are committed to establishing Q-Re as a leading global reinsurance franchise based in Doha, Qatar, with offices in Zurich, London and Bermuda.”
Q-Re is a subsidiary of Qatar Insurance Company (QIC), headquartered in Doha, Qatar and regulated by the Qatar Financial Centre Regulatory Authority (QFCRA). Saacke succeeds Ewen McRobbie, who has led Q-Re since April 2012. He will take on new responsibilities within the QIC Group.
After indicating that he is excited by his appointment, Saacke described it as an “opportunity to help build the first truly global reinsurer which originates from the emerging markets. Q-Re will have a global presence, underwrite risks across all major lines and territories and issue lead quotations based on our proprietary pricing and analytical capabilities.
“To our clients we will be a dependable partner who offers superior underwriting skills and line of business expertise. Our portfolio will reflect rigorous risk selection criteria and an embedded risk management culture. In combination with our strong and distinct capital base, we aim for nothing less than a position among the top 10 players of the global reinsurance industry by 2025.”
Khalifa Abdulla Turki Al Subaey, Group President and CEO of QIC and Q-Re’s Managing Director, said: “It is our aspiration to grow Q-Re into a leading global reinsurance company acknowledged for quality capital, technical expertise, customer focus and thought leadership. We are delighted that Gunther has come on board to lead this effort.
“He will be able to rely on a strong, globally renowned team of reinsurance professionals. Beyond our commercial objectives we also believe that Q-Re’s growth will contribute to establishing Qatar as a reinsurance hub to be reckoned with.”
Saacke has more than two decades of international reinsurance experience, with a track record of successfully building and integrating high-profile teams of industry experts. Most recently, he served as Head of Reinsurance at Endurance in London, before going on to lead Novae Re, a multi-line reinsurance operation in the Lloyd’s market.