Qatar Reinsurance Company intends to transfer its current headquarters from the Qatar Financial Centre (Doha, Qatar) to Bermuda. The transfer would take place during the last quarter of 2015. Qatar Re will, hence, become a 4th-class reinsurer regulated by the Bermuda Monetary Authority and merge with Antares Reinsurance Limited. The transaction will result in an increase of capital that will reach approximately 500 million USD.
The company intends to maintain its presence in the Qatar Financial Centre through a branch. The London and Singapore representation offices as well as Zurich's branch will remain operational.
The reinsurer will also continue to benefit from a financial guarantee of the parent company Qatar Insurance Company. Qatar Re has maintained its ratings A (stable) and A (excellent) granted respectively by Standard & Poor's and A.M. Best.