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Qatar Financial Centre Authority announces senior insurance appointment

The Qatar Financial Authority has announced the appointment of James Sutherland as Director Business Development-Insurance and Reinsurance.

In his new role Mr Sutherland will contribute to the development and implementation of the QFC’s strategy to become the regional platform of choice for the global insurance and reinsurance industry.

Prior to his appointment with the QFC Authority Mr Sutherland was with Lloyd’s of London where he was responsible for international development and operations. Earlier in his career he spent 11 years running insurance operations in South East Asia and 8 years with a global insurance broker in London.

Stuart Pearce, CEO and Director General of the QFC Authority, said: “We are delighted to welcome James to the QFC Authority. His depth of experience and market knowledge is essential for the further development of our insurance and reinsurance business.

“Qatar’s high growth rate but relatively low market share demonstrates that it has the potential to be one of the region’s most dynamic markets in non-life and life insurance. The regional share of the world’s insurance is currently less than one per cent, but it is showing significant growth, in excess of twenty per cent annually, which indicates that the Gulf and wider Middle East region is set to become a much more significant market for global insurers and reinsurers in the future. The world class legal and business construct of the QFC provides an ideal springboard for the insurance and reinsurance industry to develop the insurance sector in Qatar and to use it as its regional hub,” added Mr Pearce.