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AIG MEMSA Insurance Company Limited launches in Qatar

Qatar: Monday, November 12 - 2007 @ 08:24

AIG Qatar is based in the QFC Tower located in the centre of Doha. The new offices were formally opened by Mr. Charles Bouloux, President AIG MEMSA, on 11 November.

Mr. Bouloux said, “We are grateful to the Qatar Financial Center Regulatory Authority for their support in establishing the latest AIG office. Having a presence in Qatar further advances our goals in the region and provides us with direct access to one of the fastest growing economies in the GCC. This office brings AIG global, regional and local value through world class general insurance products and services to corporations and consumers throughout the country.”

Stuart Pearce, Chief Executive Officer and Director General of the QFC Authority, said,

“Since we began building a platform to allow insurance and re-insurance companies to offer a full range of retail and corporate insurance services in and from Qatar, the interest from the global insurance community has been very significant. We see insurance and reinsurance as core business areas which the QFC legal structure is uniquely well placed to support, and we therefore welcome AIG’s commitment to this market and to the QFC. By obtaining a license to operate in Qatar AIG MEMSA are demonstrating the opportunities that are here and are among the first movers of a large group of insurance firms and brokers who are also applying for licenses here.”

AIG Qatar benefits from AIG’s disciplined global underwriting standards and 87 years of experience in delivering innovative insurance solutions to the international community through a network of more than 130 countries and jurisdictions, reaching over 69m customers. Among other things, AIG Qatar has the capabilities to meet all the insurance needs of small and medium enterprises with individual or package products.

With this move AIG MEMSA strengthens its long-standing presence in the Middle East with its new base, AIG Qatar, headquartered at the Qatar Financial Center.

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Monday, November 12- 2007 @ 8:24 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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