OREANDA-NEWS. Insurance Company, (QIC), has been ranked amongst top fifty reinsurers by international credit rating agency, A.M. Best. The top fifty ranking primarily reflects Qatar Re’s very strong capital base and well diversified portfolio, which is coupled with global business diversification, serving global reinsurance markets.

Headquartered in Doha, Qatar Re focuses mainly on specialty and knowledge intense business and writes all major property, casualty and specialty lines of reinsurance business. Authorized and regulated by the Qatar Financial Centre Regulatory Authority (QFCRA), Qatar Re is backed by full parental guarantee from QIC Group and had net shareholders’ equity of USD 287 million as of 30th June, 2015.

Qatar Re ranked amongst top 50 global reinsurers on the basis of unaffiliated Gross Written Premium in 2014. Besides having a strong track record of operational performance and robust underwriting, the company also wrote Non-Life Reinsurance Premiums worth USD 536 million in 2014.

Commenting on this achievement, Mr. Khalifa A. Al Subaey, QIC Group President & CEO stated, “We are extremely delighted with Qatar Re’s top 50 ranking. In order to support the rapid expansion of Qatar Re, we have made significant enhancements in group-wide risk management and have incorporated new strategic decisions to further support the growth of the company.”

He further said, “Qatar Re’s dynamic growth and new ranking is a key driver for enabling more capital injection and efficient capital management to further grow its book of business and expand its global franchise, both in terms of product offerings and geographies.”