Increasing demand for insurance in the region, says broker

Aon Middle East has been authorised to operate in Qatar.

The announcement follows the opening of Aon’s regional headquarters in the Dubai International Finance Centre (DIFC) last month.

“High oil prices have opened up the opportunity to exploit untapped energy sources and the increasing emphasis on natural gas has prompted massive investments in natural resources and infrastructure projects.

Latif AlRayes, chief executive officer of Aon Middle East

Latif AlRayes, chief executive officer of Aon Middle East said: ‘The Middle East, and in particular to Qatar, will be one of the fastest-growing regions in the world over the next few years. High oil prices have opened up the opportunity to exploit untapped energy sources and the increasing emphasis on natural gas has prompted massive investments in natural resources and infrastructure projects. This coupled with strong demographic growth in the region is increasing demand for insurance.’

Massoud Shaheem, chief executive of Aon Risk Services, Middle East commented: “The Qatari economy is enjoying an exciting period of growth. The ever-growing sophistication of our region plus the significant role of Qatar in the Gulf Cooperation Council strongly encouraged Aon to establish a base in the QFC.’