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Marsh gains insurance broking and risk advisory licence in Qatar

Posted: 08 July 2008

Marsh announced that it has been authorised by the Qatar Financial Centre (QFC) to provide a broad range of insurance broking and risk advisory services in Qatar.

The grant of licence to Duncan Buchanan, CEO of Marsh Qatar LLC, said: "This is excellent news for our clients and for Marsh. Qatar is one of the world's fastest growing economies and the flow of companies entering the market to support this expansion is remarkable.

"The range and depth of Marsh's insurance broking and risk advisory services are fully aligned to meet the needs of companies either already in or planning to enter this exciting market. Through the provision of such world-class products and services we look forward to playing a prominent part in Qatar's continued development and success."

Robert Makhoul, Head of Marsh's Middle East Operations, said: "Marsh and its sister MMC companies have been operating successfully in the Middle Eastern domiciles for many years. We are proud of our track record, local knowledge and industry expertise and are confident there will be strong demand for the kind of broking and advisory services we can offer in Qatar. As the risk landscape evolves, it is increasingly important for companies to examine the potential risks they may face and then devise the most effective methods to mitigate them. Companies are undoubtedly applying a more sophisticated approach to risk. With the license issued by the QFC Authority, Marsh will be better able to advise clients in Qatar on these business-critical issues and develop effective solutions matched to their particular needs."

Stuart Pearce, CEO and Director General of the QFC Authority, added: "Without such world class intermediaries no insurance market is complete. Marsh will bring valuable risk management and transfer expertise to the local and regional market and will support our objective to become the region's leading insurance and reinsurance hub."

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