Qatar Re has been granted authorization by the Monetary Authority of Singapore (MAS) to open a branch office in Singapore. Previously, it had operated a representative office in the city-state.
Micky Lee will be heading a team of three senior underwriters working on non-life treaty business, with special focus on property-per-risk, property catastrophe, casualty, and specialty lines. The company expects further additions to its staff as it increases its presence in Asia’s fast growing markets.
Gunther Saacke, CEO of Qatar Re, said: “Fully establishing ourselves in Singapore represents a significant advance in our strategy of increasing our profile in the Asian reinsurance market and we look forward to contributing to its reputation for growth and innovation.”
Lee added: “Our objective is to become a leading reinsurance company in Singapore, serving the Asian markets.”
Qatar Re’s headquarters are in Hamilton, Bermuda, while it has branch offices in Zurich and Dubai, and a representative office in London.
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