DOHA, QATAR: Qatar Insurance Company (QIC) and QInvest LLC, Qatar’s leading investment bank, are joining forces to create a Qatar-based national champion in the Islamic asset management space.
The new company, jointly owned by QIC and QInvest, will be a Sharia‘a compliant entity, regulated by Qatar Financial Centre Regulatory Authority (QFCRA).
Epicure Investment Management LLC (EIM), a wholly owned subsidiary of QIC, which manages over US$7bn of investment assets across asset classes for its clients and having an impeccable track record of investing, 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, capitalizing 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 finalize the transaction during Q2 2022.
Qatar Insurance Company (QIC) is a publicly listed composite insurer with a consistent performance history of over 50 years and a global underwriting footprint. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar.
Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA region. QIC is one of the highest rated insurers in the Gulf region with a rating of A/Negative from Standard & Poor’s and A(Excellent) from A.M. Best.
QIC owns Epicure Investment Management LLC (EIM), a Qatar Financial Centre based Investment Management entity, which manages over US$7bn of investment assets across Equities, Fixed Income and Real Estate for its clients. www.qatarinsurance.com
QInvest is the leading investment bank in Qatar, with activities across the Middle East and Europe. QInvest has built world class investment and advisory capabilities, with the highest standards of governance and transparency underpinning its client-focused approach. The bank’s priority is to deliver high-value propositions, considered solutions and tangible results for its clients and shareholders.
QInvest’s three business divisions are Investment Banking, Asset Management, and Principal Investments, which focuses on real estate, credit and equity investments. It has unrivalled expertise in structuring products and provides clients with Sharia’a compliant solutions quickly and competitively.
The Group has offices in Doha and Istanbul, as well as affiliates in India and the UK. Its team of investment professionals provides a blend of broad international experience, deep regional knowledge and unparalleled relationships in Qatar.