79279
Qatar Re Acquires UK Motor Insurer Markerstudy
World Economy

Qatar Re Acquires UK Motor Insurer Markerstudy

Bermuda-based Qatar Reinsurance Company (Qatar Re) has signed a sales purchase agreement to buy Markerstudy’s Gibraltar-based insurance company.
Markerstudy underwrites more than 5% of the UK motor insurance market, generating premiums of about $1 billion, News website Intelligent Insurer reported.
“This transaction builds on the strong foundation of our existing relationship,” said Gunther Saacke, Qatar Re’s CEO. “It provides Qatar Re with a greater share of lower volatility business that has performed consistently well for us, balancing our specialty and catastrophe book. In addition, the transaction will enable us to write UK business under any post-Brexit scenario.
“Through this acquisition, Qatar Re reaffirms its commitment to supporting innovative entrepreneurship in insurance marketing, distribution and servicing.”
Kevin Spencer, CEO of Markerstudy Group, said: “For a long time we have had a tremendous relationship with Qatar Re. Their proactive approach has assisted our development and this is a natural evolution; to combine our strengths to establish a primary player in the UK insurance sector. The transaction is subject to regulatory approvals and is anticipated to complete in the first half of 2018.

 

Short URL : https://goo.gl/bJcWsd
  1. https://goo.gl/ucJgCZ
  • https://goo.gl/fY271h
  • https://goo.gl/ybWCss
  • https://goo.gl/QL2vi4
  • https://goo.gl/AHzxDj

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
South Africa GDP Shrinks
South African gross domestic product shrank 2.2% in the first...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Taxes in Italy Drive Economy Underground
Italy grew rapidly over the 20th century, and its black market...
Credit Crunch Pushing Sweeping Changes in Ethiopia
In a surprise move, Ethiopia’s government announced it would...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus