Qatar Reinsurance has signed an agreement to buy Markerstudy.
The price of the deal, which is expected to complete subject to regulatory approval in the first half of 2018, was not disclosed.
The takeover includes the Gibraltar-based insurance companies: Markerstudy Insurance, Zenith Insurance, St Julians Insurance and Ultimate Insurance.
Qatar Re and Markerstudy already had a reinsurance partnership.
News of discussions between the two parties was first reported on 2 January by Insurance