Qatar General Insurance & Reinsurance Co. Q.P.S.C. signs an agreement with Roland Berger26 November 2019
Qatar General Insurance & Reinsurance Co. Q.P.S.C (“QGIRCO”) signed an agreement with Roland Berger, a leading global consultancy firm, with the aim of utilizing their expertise in enhancing the Company’s strategy and operations. Roland Berger will assist in identifying changes and opportunities that will lead to long-term sustainable growth and a strong market position in the insurance industry. In addition, Roland Berger will review several key operational aspects including key policies, technological advancements, and HR operations.
Mr. Hassan Al-Efrangi, the Group Chief Executive Officer, expressed his pleasure with the concluded engagement with Roland Berger by stating: “After 40 successful years, QGRICO is considered as one of the leading insurance companies domestically and internationally. QGIRCO has a strong foundation and is investing for the future with this agreement, by defining its strategy, evaluating all business lines, assessing product development, identifying technological enhancements and enriching insurance related activities that will lead to long-term sustainable growth and increase shareholders’ value. We look forward to working with Roland Berger to achieving the Company’s long-term goals and vision.
Dr. Fabian Engels, Senior Partner at Roland Berger stated: “We are honored to be selected as QGIRCO’s strategic consultant. We consider QGIRCO to be one of the leading insurance companies in the Qatari market which has the required foundation to grow further and to be an industry leader. Roland Berger has assisted various insurance and reinsurance companies in successfully developing and aligning their business models and has accumulated the expertise to support QGIRCO in achieving their long-term goals and vision. We look forward to the successful engagement with QGIRCO.”
QGIRCO was established in 1979 and is a 40-year-old insurance company deep rooted amongst the Qatari community. The Company was listed on the Qatari Stock Exchange in 1997 and since has become one of the leading insurance companies in the domestic market, with over 120 employees working in the insurance industry across 7 branches. QGIRCO has maintained a “A- (Excellent)” credit rating for 10 years, according to AM Best credit ratings.
Roland Berger was established in 1967 and is one of the leading global strategy firm. Roland Berger is headquartered in Munich and has 2,400 employees spread across 51 offices in 35 countries.