Al Koot Insurance And Reinsurance SAQ
Incorporated in 2003, Al Koot Insurance And Reinsurance SAQ is currently a wholly-owned subsidiary of Gulf International Services. The company has a 33% stake in a joint venture, Fereej Real Estate Company. Al Koot’s authorised share capital is QR500 million with its paid-in capital currently QR218.6 million.
The registered head office is located at Al Maha Building, Bin Omran, P.O. Box 24563, Doha, state of Qatar. Total headcount is 53, with all staff based at the head office.
Prior to its acquisition by GIS, Al Koot was the captive insurance company of Qatar Petroleum and hence was established with the primary aim of providing insurance and reinsurance services to QP and its business ventures. Although no longer a direct subsidiary of QP, Al Koot still provides a de facto captive insurance service to the QP group.
All of the group’s services are principally provided within the construction, operations, marine and medical insurance and reinsurance fields. The group’s insurance and reinsurance services are of 3 different types:
Currently, there are no plans to enter new insurance or reinsurance markets or segments, to increase or decrease Al Koot’s percentage interest in reinsurance risks or to reduce the company’s historical captive insurer role.
For more information, please visit the Al-Koot website.