QFC Authority announces brand name for Qatar Insurance Services

Notes and media contacts

Notes:
Qatarlyst is the trading brand of Qatar Insurance Services LLC and is a technology-based insurance fulfilment system delivering integrated processing between insurance and reinsurance trading partners. It will also bring together international insurers/reinsurers and brokers to conduct insurance trading activities through the system.

The Qatarlyst Board comprises:
• Abdulrahman Ahmed Al Shaibi, Chairman
Mr Al Shaibi is a Non-Executive Director of the QFC Authority, Head of Qatar Petroleum's Project Finance Group and Board member of Qatargas Companies and Qatar Petroleum International.

• Ian Cormack, Deputy Chairman
Mr Cormack is a Non-executive Director of the QFC Authority and a Non-Executive Director of Aspen Re, Pearl Assurance Group and Europe-Arab Bank plc. He was previously European Chief Executive of AIG Inc, prior to which he had a 30 year career with Citigroup

• John Coomber, Non-executive Director
Mr Coomber is a Non-executive Board member of Swiss Re and previously CEO of the company, and a board member of Pensions Insurance Company Holdings, and telent limited and The Climate Group.

• Mike Peachey, Non-executive Director
Mr Peachey is CEO CTC Axiom and of the Insurance Support Services Division of Charles Taylor Consulting plc ("CTC"). He has worked for insurance buyers in Qatar continuously since 1992 and was instrumental in the formation of Al Koot Insurance and Reinsurance Company. Earlier in his career he ran insurance consultancy, INDECS.
• Stuart Pearce, Non-executive Director
•
Mr Pearce is CEO and Director General, QFC Authority

• Leonard Schrank, Non-executive Director
Mr Schrank is Co-founder and Chairman and CEO, ACT3 Technologies LLC, and was previously CEO of SWIFT (Society for Worldwide Interbank Financial Telecommunication)

• Max Taylor, Non-executive Director
Mr Taylor is currently Chairman of the Mitsui-Sumitomo Insurance London Companies, Chairman of Council of the University of Surrey, Director of the Financial Services Compensation Scheme and was previously Chairman of Lloyd's of London, President of the Insurance Institute of London and Deputy Chairman of Aon Limited.


Qatar Financial Centre:
The Qatar Financial Centre (QFC) is a financial and business centre established by the Government of Qatar and located in Doha. It has been designed to attract international financial services institutions and major multi-national corporations and to encourage participation in the growing market for financial services in Qatar and elsewhere in the region. The QFC operates to international standards and provide a first class legal and business infrastructure for those operating within the QFC. The QFC was created by Qatar Law No.(7) and has been open for business since 1 May 2005.

QFC Regulatory Authority:
The QFC Regulatory Authority is an independent regulatory body established by Article 8 of the QFC Law. It regulates firms that conduct financial services in or from the QFC. It has a broad range of regulatory powers to authorize, supervise and, when necessary, discipline firms and individuals. The QFC Regulatory Authority regulates firms using principle-based legislation of international standard, modeled closely on that used in London and other major financial centers. The Regulatory Authority is currently receiving applications and granting authorisations.

QFC Authority:
The QFC Authority is the commercial, administrative and legislative body responsible for driving the commercial strategy of the QFC and for developing relationships with the global corporate community and other key institutions both within and outside of Qatar.


Media Contact:
Steve Martin
Director of Marketing and Corporate Communications
Tel +974 4967755
or
Layla Salem
Senior Media Executive
Tel +974 4967793