The newly created post signals the carrier's intent to scale up its underwriting presence in one of the reinsurance industry's fastest-moving growth corridors.
Cherrak will be based in Dubai and report to Houcine Zouaoui, head of Middle East and Africa (MEA) for QBE Re. His remit covers underwriting strategy across MENA, with the company positioning the role to inject deeper local market knowledge into its regional operations.
He arrives with nearly three decades in financial services, around 20 years of which have been spent in reinsurance since 2005. Cherrak joins from SCOR SE, where he was senior underwriter and client relationship manager for the Africa and Middle East territory.
Abdallah Balbeisi, director of Europe and growth markets at QBE Re, said Cherrak's experience in the Gulf and North African markets made him a fit for the new role.
"We're excited to welcome Montassar to QBE Re. His strong underwriting track record, including leading major programmes in the Saudi Arabian and Algerian reinsurance markets, makes him an excellent fit for this new role," Balbeisi said.
The MENA appointment echoes a similar play in Asia, where QBE Re brought in Cindy Foo in October 2025 to spearhead a newly created treaty reinsurance hub out of Singapore.
Foo, who also reports to Balbeisi, was hired as the company looks to "build a sustainable, client-focused treaty franchise in the region," in Balbeisi's words, which frames Singapore and Dubai as twin pillars of QBE Re's emerging-markets strategy.
The two hires fall under a broader shake-up unveiled in July 2025, when QBE Re reorganized its business around three regional markets — EMEA, International and North America — and three product lines.
That overhaul saw Balbeisi installed as executive director for EMEA, with oversight of QBE Re's Dubai, Brussels and Dublin offices. The structure places the Gulf hub at the core of the reinsurance carrier's growth-market ambitions, with Dubai functioning as the springboard for MENA expansion.
Cherrak's hire lands as global reinsurance carriers continue to lean into MENA, drawn by infrastructure spending across the Gulf Cooperation Council, large-ticket energy programs, and rising primary insurance penetration in North African economies including Egypt, Morocco and Algeria.
