Oman Re, the sole reinsurer based out of Oman, is pleased to announce the launch of its branch at Qatar Financial Centre (QFC), Doha to provide its regional clients with greater access to its underwriting expertise and capacity. This follows the receipt of necessary regulatory approvals.

Over the past four years, Oman Re has made considerable progress by means of several strategic initiatives to strengthen its foothold in Oman and within the wider territorial scope, particularly the Afro-Asian markets. While business operations are expected to commence from second quarter of this year, the new QFC Branch will write facultative and treaty business from both local and dedicated international markets.

The Company’s Chairman, Dr. Juma Bin Ali Al Juma said: “Over the years, we have continuously strived to become the preferred reinsurance partner in Oman and the broader region. Qatar is a key market and a regional hub, and we are excited to be here as part of our growth and diversification initiatives. The new branch will supplement our existing infrastructure as we aim to provide leading brokers and clients with bespoke reinsurance solutions.”

Oman Re’s CEO, Romel Tabaja commented, “Despite the many challenges, we signed-off with year 2020 on a positive note with growth in both revenue and technical profitability. With our new QFC Branch, we aim to enhance our business profile, improve our proximity to clients and expand profitably.”

He added to say, “Our senior team member – Bashar Abdulkhaleq Raoof has been appointed as General Manager to lead business operations at our QFC Branch. Bashar is a seasoned insurance professional with rich experience within the regional and international reinsurance markets.”

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