28 February 2013Bermuda analysis

Gunther Saacke appointed CEO of Q-Re

Gunther Saacke has been appointed Q-Re’s new CEO. Q-Re, a subsidiary of the Qatar Insurance Company (QIC), is hoped to become one the world’s top multi-line reinsurers under Saacke’s lead.

Focusing on specialty lines, though with some casualty business, Q-Re will write reinsurance for the engineering, agriculture, aviation and credit and surety industries.

Saacke said of his appointment: “I am excited about the opportunity to help build the first truly global reinsurer which originates from the emerging markets. Q-Re will have a global presence, underwrite risks across all major lines and territories and issue lead quotations based on our proprietary pricing and analytical capabilities.”

Saacke replaces Ewen McRobbie, who has served as Q-Re’s CEO since April 2012.

Saacke continued: “in combination with our strong and distinct capital base, we aim for nothing less than a position among the top 10 players of the global reinsurance industry by 2025.”

Khalifa Abdulla Turki Al Subaey, group president and CEO of QIC and Q-Re’s managing director, said: “we are delighted that Gunther has come on board to lead this effort. He will be able to rely on a strong, globally renowned team of reinsurance professionals. Beyond our commercial objectives we also believe that Q-Re’s growth will contribute to establishing Qatar as a reinsurance hub to be reckoned with.”

Q-Re is headquartered in Doha, Qatar, and has offices in Zurich, London and Bermuda.