Kane, a provider of specialist risk and insurance management services, has received license to set up an insurance management company from Qatar Financial Center Regulatory Authority (QFCRA).
The new company will offer a range of services that include captive management, risk management and healthcare advisory services and will be lead by Shaun Brook, practice leader, insurance management.
Qatar Financial Centre Authority acting CEO and chief strategic development officer Shashank Srivastava said that Kane is the first captive manager to obtain license in the QFC.
Captive insurance is an important part of the QFC Authority’s hub initiative strategy, and we welcome Kane’s decision to open an office in Qatar, Srivastava said.
Brook said that captives are seen as becoming a central component in Qatar’s financial make up and Kane is delighted to be able to play a prominent role in facilitating this.
Kane CEO Stephen May said that Kane has built its strategy for growth in the Middle East upon being able to offer its expertise and experience from multiple domiciles in the region.
“By establishing operations in Bahrain, Dubai and now Qatar this enables us to build close working partnerships with our clients in the Middle East, a factor which we feel is essential to any long-term successful relationship,” May said.