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Buyer gears up for Markerstudy insurer swoop amid QIC exit

Gibraltar
    • Saxon East

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Qatar Insurance Company wants to exit loss making business and is poised to sell its Gibraltar-based direct insurance carriers.

An institutional buyer is primed to buy the Qatar Insurance Company-owned Markerstudy underwriting business. 

QIC revealed in its third-quarter results that it wants to exit ‘low margin and loss making’ international direct business.

It has a buyer lined up for both Markerstudy Insurance Company Limited and West Bay Insurance PLC.

Both are Gibraltar-based subsidiaries which underwrite UK motor and are classified as ‘discontinued operation’ that are ‘held for sale’ in the trading update. 

QIC

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