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RE AIG MEA LIMITED

Court of First Instance
CTFIC0032/2022
Neutral Citation
[2023] QIC (F) 48
Date
16 December 2023
Status
Keywords
First Instance Circuit
Insurance
Transfer of insurance business
QFC Financial Services Regulations
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.

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Judges

  • Lord Hamilton

    Scotland

  • Sir Bruce Robertson

    New Zealand

  • Ali Malek KC

    England

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