Doha’s Q-Re reviews sturdy increase in January Renewals

Doha-based totally Q-Re announced that it expects to write down about S$269 million of property, casualty and forte strains rates from the January 1 renewals. “On a constant forex foundation, this volume represents an increase of 43 percent from the 2013 expiring renewable base of commercial enterprise,” stated the assertion. “For the entire year 2014 Q-Re expects to maintain momentum for robust growth following on from the a success expansion of its portfolio within the preceding year.”

Q-Re’s CEO Gunther Saacke commented: “we are pleased with the January renewals. Q-Re remains on track to constructing a strong international reinsurance franchise. way to our in-intensity technical expertise and uniqueness traces knowledge, we persevered to deliver in opposition to plan in a distinctly tough and aggressive market surroundings. Our underwriting teams managed to significantly boom our shares in worthwhile enterprise and successfully set up new purchaser relationships. Q-Re additionally bolstered its presence within the Lloyd’s market through new participations. at the same time, we opted for tremendous reductions of renewed commercial enterprise in strains and territories in which our profitability standards were no longer met.”

Willi Schuerch, Q-Re’s chief Underwriting Officer, brought: “We recorded the fastest growth in North American assets and credit score and surety enterprise in addition to in the aviation section where we essentially started from scratch. Our more installed uniqueness traces, in particular agriculture and casualty lessons, additionally evolved very favorably with growth of 20 to 30 percentage. In those regions costs held up nicely, opposite to maximum different lines of commercial enterprise.

“We chose to reduce our worldwide assets catastrophe business by way of 10 percent while increasing marine premiums simplest slightly with the aid of 15 percentage, as Q-Re stays committed to energetic portfolio control. In some lines inclusive of marine declinature ratios of up to 70 percent were reflective of a continuously tough environment.”

Q-Re become hooked up in 2009. it is a completely-owned subsidiary of Qatar coverage business enterprise (QIC), and is based in Doha, Qatar and regulated through the Qatar monetary Centre Regulatory Authority (QFCRA). it is capitalized at round $1.four billion.