Doha, 6th July 2011
Khalid Al Mughesib, Deputy CEO of QIS appointed to represent Qatar by IIS
Khalid Al Mughesib, Deputy CEO of Qatar Insurance Services (QIS) and Board member of Qatarlyst, has been appointed as Ambassador for Qatar by the International Insurance Society (IIS). This is the first time the IIS has appointed an Ambassador for Qatar and is a sign of Qatar’s emerging status as a leading hub for captives and reinsurance in the region. This announcement highlights one of the several recent developments in the industry, including the decision by one of Qatar’s leading reinsurers, SEIB Insurance llc to utilise Qatarlyst as their main insurance transaction solution and the announcement by the Qatar Financial Centre Regulatory Authority to introduce new regulations designed to support the development of the captive insurance industry within Qatar.
The IIS is the largest multinational organization of its kind, with almost 1000 members representing global insurance leaders from over 90 countries. The IIS facilitates the cross-border exchange of ideas and initiates practical and original research that addresses the many critical issues facing the insurance industry worldwide through a research partnership with the Geneva Association and through annual seminars.
By sharing resources, knowledge and forging relationships, members of the IIS contribute to the enhancement of the insurance industry as a whole.
The primary role of IIS Ambassadors is to promote the universality of insurance practice as embodied globally by the International Insurance Society.
Khalid joined QIS, a licensed QFC Authority firm, in April 2010 as Deputy CEO. He previously worked for Qatar Petroleum and Al Koot Insurance & Reinsurance Co. as Energy Insurance Manager and for Al Jasr Takaful as General Manager. He brings over 18 years of experience in local, regional and international insurance to his role.
James Sutherland, CEO of QIS, commented; “We are delighted that Khalid should achieve this accolade, proof that his hard work and that of the QIS and Qatarlyst is being internationally recognized. The QIS is part of Qatar’s strategic vision to create a uniquely sustainable platform to become a leading reinsurance and captive insurance hub and our association with the IIS can only benefit us in achieving our ambitions
Notes to the Editor
QIS
Qatar Insurance Services LLC (‘QIS’) was incorporated as a QFC LLC on the 24th November 2008. The registered and QFC number of the firm is 00097. The firm is Licensed by the QFC Authority to conduct the Permitted Activities of Professional Services (Consulting).
Qatarlyst S.P.C. (“Qatarlyst”) is a single shareholder company incorporated in the State of Qatar under Commercial Registration number 46261 and licensed by the Qatar Ministry of Business & Trade. Qatarlyst is a wholly owned subsidiary of QIS and both entities are in turn wholly owned by the Qatar Financial Centre Authority (“QFCA”). QIS provides Qatarlyst with a range of professional consulting and business outsourced services. Qatarlyst provides the Qatarlyst System to its customers and this system is a secure, web-based transaction infrastructure which currently encompasses the whole insurance placement value chain. Qatarlyst is creating a community of insurers, brokers and reinsurers across the region, offering real-time connectivity for reinsurance and large commercial risk professionals. The platform has been established to underpin Qatar’s commitment to become a leading reinsurance and captive insurance hub.
Qatarlyst S.P.C. is the sole and exclusive provider of licenses to customers to access and use the Qatarlyst System.www.qatarlyst.com
For further information please contact:
Masoomeh Geshmirani
Executive Assistant
Qatar Insurance Services LLC
Licensed by the QFC Authority
Floor 12, QFC Tower, PO Box 23245, Doha, Qatar
T. +974 4496 8319
F. +974 4496 8310
m.geshmirani@qatarlyst.com
www.qatarlyst.com