Qatar Financial Centre Authority announces key insurance initiative
QIP will provide an electronic trading service, facilitate transaction workflow, deliver trade documentation and effective management information, and ultimately enable straight though processing capabilities
The establishment of QIP will advance the sophistication of Qatar’s insurance industry, and will help to attract further insurance expertise to Qatar.
It will also bring together international insurers/reinsurers and brokers to conduct insurance trading activities through the platform. In so doing it will fortify Qatar’s intention to become the region’s leading insurance centre, and provide access for the global insurance and re-insurance industry to a fast growing portfolio of GCC, Central and Southern Asian risks for structuring and placement.
The first phase will go live in a pilot operation in the 4th quarter of 2008.
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