Qatar Re said that the Monetary Authority of Singapore has granted the company a licence to operate a branch office in Singapore. The licence became effective as of 3 October 2016.
Micky Lee, previously in charge of Qatar Re’s representative office in Singapore, will become the principal officer of the branch.
“Our objective is to become a leading reinsurance company in Singapore, serving the Asian markets,” said Lee.
Initially a team of three senior underwriters, led by Lee, will write non-life treaty business, focusing on property-per-risk, property catastrophe, casualty and key specialty lines (such as marine, aviation, energy, engineering, credit & surety), as well as selective bouquet business.
The company said it will make further appointments as it strengthens its response in the region.
Qatar Re, licensed as a class 4 reinsurer by the Bermuda Monetary Authority, is a global multi-line reinsurer writing all major property and casualty and specialty lines of business.
Was this article valuable?
Here are more articles you may enjoy.
Taylor Farms Recalls Salsa and Guacamole Over Salmonella Risk 
Drivers of Mercedes AMG Cars File Class Action Over Burn Hazard From Logo on Seat 
Zurich Insurance Earnings Boosted by Global Data Center Demand 
Pritzker Signs Bills Giving Insurance Department Power to Overturn Rate Changes 
