Qatar Insurance Group and leading consultants Oliver Wyman have signed a contract for consultancy services to design and implement a new group “Target Operating Model”.
Since its establishment in 1964, Qatar Insurance Company has grown in terms of both size and complexity. The QIC Group now comprises a number of operating companies and business units covering insurance, reinsurance, bancassurance, real estate and asset management, the company said.
Concurrent with this expansion and diversification has been an extension of its global reach and it now undertakes reinsurance on a global basis through its subsidiary Q-Re LLC.
QIC Group now has representation in Qatar, UAE, Kuwait, Oman, Malta, Zurich, London and Bermuda.
QIC Group president and CEO Khalifa al-Subaey said, “Our Group has undergone periodical restructuring to cater to the considerable expansion it has engineered and implemented over the last 15 years but now requires a more appropriate, holistic Target Operating Model.
“Through this partnership with Oliver Wyman we will design and implement a robust model, which will ensure that our group of companies is appropriately structured to meet both the challenges and opportunities we will encounter as we continue to grow and expand in the decades ahead.”
