Qatar Insurance Company (QIC), the market leader in Qatar and a dominant insurer in the Gulf Co-operation Council as well as the Middle East and North Africa (Mena) regions, and QInvest, have joined forces to create a Qatar-based national champion in the Islamic asset management space.
The new company, jointly owned by QIC and QInvest, Qatar’s leading investment bank and one of the most prominent Islamic financial institutions globally, will be a Shariah-compliant entity, regulated by the Qatar Financial Centre Regulatory Authority (QFCRA).
Epicure Investment Management (EIM), a wholly owned subsidiary of QIC, which manages over $7bn of investment assets across asset classes for its clients, will provide the necessary asset management capabilities to the joint venture entity, while QInvest will provide the necessary infrastructure and market reach to the joint venture entity, capitalising on its track record in developing and structuring innovative Islamic investment products, in addition to its ability to raise capital.
The transaction remains subject to relevant corporate and regulatory approvals.
It is the intention of both parties, in conjunction with respective stakeholders, to work collaboratively to finalise the transaction during the second quarter of 2022.
QIC is a publicly listed composite insurer with a consistent performance history of over 50 years and a global underwriting footprint.
QInvest’s three business divisions are investment banking, asset management, and principal investments, which focus on real estate, credit and equity investments.
Epicure Investment Management (EIM), a wholly owned subsidiary of QIC, which manages over $7bn of investment assets across asset classes for its clients, will provide the necessary asset management capabilities to the joint venture entity, while QInvest will provide the necessary infrastructure and market reach to the joint venture entity, capitalising on its track record in developing and structuring innovative Islamic investment products, in addition to its ability to raise capital.
The transaction remains subject to relevant corporate and regulatory approvals.
It is the intention of both parties, in conjunction with respective stakeholders, to work collaboratively to finalise the transaction during the second quarter of 2022.
QIC is a publicly listed composite insurer with a consistent performance history of over 50 years and a global underwriting footprint.
QInvest’s three business divisions are investment banking, asset management, and principal investments, which focus on real estate, credit and equity investments.