BrazilQatar insurer taps Roland Berger for strategy and operations review
Global consultancy Roland Berger has signed an agreement with the Qatar General Insurance & Reinsurance Company to enhance the group’s strategy and operations.
Following a nod of approval given to the Qatar General Insurance and Reinsurance Company’s (QGIRC) strategic growth plans earlier this year – by its board of directors including Chairman and Managing Director Sheikh Nasser Bin Ali Bin Saud Al-Thani – the Qatari insurer has now brought on board global management consultancy Roland Berger to help with enhancing its strategy and operations.
Founded over forty years ago in 1979, QGIRC is an exchange-listed personal and corporate insurer headquartered in Doha and serving the wider MENA region, with the group having set up further entities in Bahrain, Algeria, Libya, Oman and Syria over the years. Meanwhile, Roland Berger has been active in Qatar for around the past ten years, with the firm’s Doha office one of five in the Middle East region.
“After 40 successful years, QGRIC is considered as one of the leading insurance companies domestically and internationally,” said QGIRC Group Chief Executive Officer Hassan Al Efrangi at the signing ceremony. “QGIRC has a strong foundation and is investing for the future with this agreement. We look forward to working with Roland Berger to achieving the company’s long-term goals and vision.”
According to QGRIC, Roland Berger will as per the agreement assist in “identifying changes and opportunities that will lead to long-term sustainable growth and a strong market position in the insurance industry”, by defining strategy, evaluating all business lines, and assessing product development. The consultancy will also conduct reviews into key operational areas such as to policies, HR and technology.
“We are honoured to be selected as QGIRCO’s strategic consultant,” said Roland Berger senior partner Fabian Engels. “Roland Berger has assisted various insurance and reinsurance companies in successfully developing and aligning their business models and has accumulated the expertise to support QGIRCO in achieving their long-term goals and vision. We look forward to the successful engagement with QGIRCO.”
Fellow senior partners Peter Choueiri and Wolfgang Hach were present at the signing. Hach: “It’s always important to have a joint strong team to have the strategy go forward. Our task is to bring in experience and best practice from international companies. It’s important to have a client-centric view, and to see how technology can support us in providing the right services and right products to the local Qatari market”.
