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Launch of Doha Bank Assurance Company
Doha Bank is all set to launch its hundred percent owned insurance subsidiary company named Doha Bank Assurance Company LLC (DBAC), first of its kind in Middle Eastern Region, where a Bank will be running Insurance Company. The formal launch is taking place at Al-Mirqab ballroom in Four Seasons Hotel on 7 January 2008; the launch program is scheduled to start at 7 PM.
Qatar Financial Centre Regulatory Authority will formally handover the license to Doha Bank Assurance Company during the launch event. Doha Bank Assurance Company has been licensed to operate under Qatar Financial Centre Regulatory Authority, authorized to underwrite all classes of General Insurance business.
This launch comes at a time when GCC Insurance market is undergoing a rapid growth and also Qatar economy booming with massive investments being made in multiple sectors fuelling the demand for general insurance product suites. Accordingly, Doha Bank Assurance Company is positioning itself to include wide-range of product spectrums in commercial segment covering contractors risks, marine insurance, fire insurance, property risks, machinery breakdown risks, contractors plant & machinery risks, energy risks, motor insurance, workmen’s compensation insurance, fidelity insurance, personal accident, medical & health insurance, public liability insurance, product liability insurance, professional indemnity insurance etc.
His Excellency Sheikh Abdul Rahman Bin Mohammed Bin Jabor Al Thani will be the Chairman for Doha Bank Assurance Company with other board members comprising His Excellency Sheikh Fahad Bin Mohammed Bin Jabor Al Thani, Mr. Charles Graves (Chase) Untermeyer, Dr. Kailash Chandra Mishra, Mr. Peter James Brown and Mr. Sadao Suzuki.
Doha Bank Assurance Company is also organizing a knowledge sharing session, during the launch program, to highlight various developments taking place in Financial Services in particular to Insurance sector, where Global experts in the Insurance sector will address.
Mr. R. Seetharaman, Group Chief Executive Officer will deliver his speech on “Convergence of banking and insurance sector”, Mr. Heinz Arnold, Director Swiss Reinsurance will speak on the theme “Climate Change – dominating challenge to the Insurance Industry” and Mr. Mahomed Akoob, Managing director, Hanover Reinsurance Takaful will speak on “Innovations in Insurance: Value Advantage”.
The knowledge sharing session will be followed by a multimedia presentation on the Evolution of Doha Bank Assurance Company followed in succession by the handing over ceremony. The launch event will conclude with musical program and dinner.
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