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.
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