HSBC Insurance Brokers Limited said it has established a branch office and received regulatory approval to provide insurance brokerage services to corporate customers in Qatar.

HSBC Insurance Brokers said it provides services across the Middle East from offices within The Kingdom of Saudi Arabia and the United Arab Emirates.

Steve Bonynge, managing director of HSBC Insurance Brokers (Middle East), said, “Qatar is an important and growing insurance market, and we are delighted to be joining the QFC [Qatar Financial Center Authority].”

He added that the company looks to “contribute to the development and growth of the Qatar insurance market by bringing over 30 years of experience within the Middle East as well as our international technical capabilities and resources for the benefit of the Qatar business community.”

Stuart Pearce, QFC Authority chief executive officer and general director, said, “We see insurance and reinsurance as key growth areas for Qatar, offering high potential to firms such as HSBC Insurance Brokers, who will play an important role in deepening the sector and contributing to the economy.”

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