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Through its supervisory arbitrational jurisdiction under Law No 2 of 2017 issuing the Arbitration Law in Civil and Commercial Matters, parties can elect the QICDRC as the “Competent Court” of arbitration to perform various functions in relation to interim measures, enforcement of awards and appeals.
RE AIG MEA LIMITED
CTFIC0032/2022
Neutral Citation
[2023] QIC (F) 48
Date
16 December 2023
Status
Keywords
Judges
Lord Hamilton
Sir Bruce Robertson
Ali Malek KC
Summary
The Qatar Financial Centre Civil and Commercial Court sanctioned a scheme for AIG MEA Limited to transfer its insurance business to Qatar General Insurance and Reinsurance Company Q.P.S.C. The transfer is part of AIG MEA's plan to cease insurance operations in Qatar. The Court confirmed compliance with regulatory conditions, including financial adequacy and necessary authorizations. The transfer faced no objections from policyholders or regulatory authorities. The Court, therefore, found it appropriate to approve the transfer, ensuring the protection of policyholders' interests. The Applicant was represented by Clyde and Co.
Judges
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Lord Hamilton
Scotland
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Sir Bruce Robertson
New Zealand
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Ali Malek KC
England
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