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DOHA, QatarThe Qatar Financial Centre Regulatory Authority and the Department of Insurance in Delaware have signed a memorandum of understanding related to supervision of insurers in those jurisdictions.
The MOU establishes a framework for cooperation between regulatory authorities who oversee insurers in Delaware and Qatar. It provides for "the exchange of information between regulators and for the supervision of firms that are established in Delaware in the United States which seek to conduct insurance business in the QFC," said Phillip Thorpe, chairman and chief executive officer of the Doha-based QFC, in a statement.
Mr. Thorpe said he expects the regulatory authority to enter into similar relationships with regulators from the United States and other jurisdictions.