SEIB Insurance and Reinsurance launches in Qatar

by Gill Montia

Story link: SEIB Insurance and Reinsurance launches in Qatar

A new insurance company has been granted a licence to operate in the Qatar Financial Centre.

SEIB Insurance and Reinsurance Company LLC is a joint venture between HE Sheikh Jabor Bin Yosef Bin Jassim Al-Thani and Chedid Capital Holding.

The latter is a regional investment company established in 1998 and specialising in the insurance and reinsurance sector.

The firm is part-owned by Euromena, a private equity fund managed by Capital Trust of the UK and sponsored by the European Investment Bank.

SEIB says it will be offering commercial and retail insurance products and services to the Qatari economy, commenting: “The rapidly growing economy of Qatar drives the need for advanced insurance products and services.”

Chairman, HE Sheikh Jabor Bin Yosef Bin Jassim Al-Thani adds: “We are thrilled with this new project. Qatar deserves it.”

Farid Chedid, chairman of Chedid Capital, sums up: “The Middle East’s highly untapped market, rising awareness levels, the rapid growth of insurable assets, and various government initiatives are driving the expansion of the Qatari insurance market.”