DOHA, QATAR: Qatar Insurance Company (QIC) and QInvest LLC, Qatar’s main funding bank, are becoming a member of forces to create a Qatar-based nationwide champion within the Islamic asset administration space.
The new company, collectively owned by QIC and QInvest, will be a Sharia‘a compliant entity, regulated by Qatar Financial Centre Regulatory Authority (QFCRA).
Epicure Investment Management LLC (EIM), a wholly owned subsidiary of QIC, which manages over US$7bn of funding assets throughout asset classes for its clients and having an impeccable track record of investing, will present the necessary asset administration capabilities to the three way partnership entity, whereas QInvest will present the necessary infrastructure and market attain to the three way partnership entity, capitalizing on its track record in developing and structuring innovative Islamic funding products, along with its ability to raise capital.
The transaction stays topic to related firm and regulatory approvals.
It is the intention of each parties, in conjunction with respective stakeholders, to work collaboratively to finalize the transaction throughout Q2 2022.
Qatar Insurance Company (QIC) is a publicly listed composite insurer with a constant efficiency historical past of over 50 years and a global underwriting footprint. Founded in 1964, QIC was the primary home insurance coverage firm within the State of Qatar.
Today, QIC is the market chief in Qatar and a dominant insurer within the GCC and MENA region. QIC is one of many highest rated insurers within the Gulf area with a rating of A/Negative from Standard & Poor’s and A(Excellent) from A.M. Best.
QIC owns Epicure Investment Management LLC (EIM), a Qatar Financial Centre based Investment Management entity, which manages over US$7bn of funding assets throughout Equities, Fixed Income and Real Estate for its clients. www.qatarinsurance.com
QInvest is the main funding financial institution in Qatar, with actions throughout the Middle East and Europe. QInvest has constructed world class funding and advisory capabilities, with the highest requirements of governance and transparency underpinning its client-focused approach. The bank’s precedence is to ship high-value propositions, considered options and tangible outcomes for its clients and shareholders.
QInvest’s three enterprise divisions are Investment Banking, Asset Management, and Principal Investments, which focuses on actual estate, credit score and fairness investments. It has unrivalled experience in structuring merchandise and provides clients with Sharia’a compliant options quickly and competitively.
The Group has offices in Doha and Istanbul, as well as to associates in India and the UK. Its team of funding professionals provides a mix of broad worldwide experience, deep regional knowledge and unparalleled relationships in Qatar.