Qatar Re acquires UK insurer's units

Qatar Insurance Company S.A.Q.'s Bermuda-based unit Qatar Reinsurance Co. Ltd. is acquiring U.K.-based insurer Markerstudy Holdings Ltd.'s units, Gulf Times reported. Qatar Re plans to acquire U.K.-based Markerstudy Insurance Co. Ltd., Gibraltar-based Zenith Insurance P.L.C. and Ultimate Insurance Co. Ltd. and Malta-based St Julians Insurance Co. Ltd. "This transaction provides Qatar Re with a greater share of lower volatility business that has performed consistently well for us, balancing our specialty and catastrophe book," said Gunther Saacke, chief executive of Qatar Re.

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