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.
EPF may set up Islamic fund,
The Employees Provident Fund (EPF) has hired consultants to study the possibility of establishing one of the world’s first state-backed pension funds focusing entirely on syariah-compliant investment