In a move aimed at emphasising its leadership across the region, AXA Gulf announced that it has signed a partnership with Qatarlyst, the leading trading service for the global insurance and reinsurance industry.
“Qatar offers a huge potential for growth in the insurance sector with penetration levels close to one per cent. Hence, we are extremely bullish about signing up with Qatarlyst which offers a secure trading service for the country, and beyond,” said Jérôme Droesch, CEO of AXA Gulf.
AXA Gulf has built a very successful entity in the region for the past years. It has achieved double-digit growth in 2011 with premiums well over $100 million. Currently, AXA is the third biggest insurer overall in Qatar with over 100,000 clients. “Our partnership with Qatarlyst will be a key contributor to gaining dominance in Commercial Lines and in Motor insurance. This tie-up reflects our commitment to invest in the region to seize on the huge potential this market has to offer,” Droesch added.
Bank Nizwa wins top Islamic bank award
Bank Nizwa, a leading Islamic lender, recently won the Best Bank in Oman award from the Islamic Finance News (IFN) Awards ceremony at the Ritz Carlton Dubai International Finance Centre.