QIC Group Management

He joined QIC in 1986, and has been instrumental in leading the Group for over 25 years. QIC’s growth and current strength is attributable to his experience, foresight and leadership. Under his leadership, QIC has grown from a modestly sized local company to the largest well-diversified insurance group in the Middle East and North Africa in terms of profitability and market capitalisation. Mr. Subaey completed his graduation from Central Michigan State University in the US. After returning from the US, he joined the state-owned oil company of Qatar General Petroleum Corporation (now Qatar Petroleum) and undertook several roles within the Finance Department.

He joined QIC in 1986 and had worked in various departments and was subsequently appointed as the Head of Technical department, handling claims and reinsurance. In 2010 Mr. Fadala was appointed as CEO of Damaan Islamic Insurance Company (Beema), an entity of the QIC Group and assumed responsibility to further grow and raise the profile of Takaful and the newly founded establishment. Owing to his visionary foresight, in 2013, he was appointed as the Senior Deputy Group President & CEO of the QIC Group and was elected as a Board Member for various entities within the Group. More recently, he has been appointed as a Board member in Commercial Bank of Qatar (CBQ) representing QIC.

He joined QIC in 1986, as part of the management team and is credited with elevating QIC to its position as one of the leading insurance groups in the region. Apart from his overall financial and general management responsibilities, Sunil is directly responsible for managing the investment strategy of QIC, which involves the management of assets (investments and cash) in excess of billion. Sunil has been instrumental in driving the Group’s international growth and in implementing its strategy of diversifying its revenue base.

A post graduate from Glamorgan University, South Wales and an MBA from Plymouth University, UK is the Deputy CEO of Q Life & Medical (QLM). He started his career with QIC in 2001 and after working for two years in the motor department was awarded a scholarship to complete his degree in the UK. In 2006, he joined the Marine department of QIC as a Senior Underwriting Officer and subsequently was appointed as the AVP for Cargo. In 2013, Mr. Mannai assumed responsibility of the Deputy CEO of QLM. Salem has been instrumental in expanding further QLM’s regional operations and for bringing innovative solutions to establish QLM as a pioneer in the Health Insurance industry.

A post graduate diploma holder in Business Management and a Fellow of the Insurance Institute of India, has served more than 38 years in the insurance industry in India, the Middle East, and Australia. His career began in India with the National Insurance Company for whom he worked for nine years. He then came to the Gulf and worked in Bahrain for three years before joining Qatar Insurance Company as a key member of the Management team. In 1997, Mr. Alexander left Qatar to take up residency in Australia and utilised the sabbatical to gain more international exposure before returning to QIC in early September 2001.

Ahmed joined QIC Group in 2011 and has over nine years of experience in the industry. He has a wide range of knowledge and expertise in Audit, Advisory and Financial services to a broad range of industries. Prior to joining the QIC Group, Ahmed was working with KPMG audit and advisory in Qatar and in Egypt. Ahmed is a qualified Chartered Accountant and a Fellow of the Association of Chartered Certified Accountants (ACCA) in the UK. He is also a Certified Internal Auditor (CIA) with the Institute of Internal Auditors in USA. He also holds an MBA degree from Oxford Brookes University.

Varghese P David is the Group Chief Financial Officer & Executive Vice President of QIC Group. Varghese has over twenty five years of industry experience out of which over twenty years were in the Middle East. Varghese joined QIC Group in 1998 and for the past 17 years has varied experience in finance, internal audit, IT and risk management. Prior to joining QIC Group, Varghese was with Sedgwicks Group in the UAE, a leading insurance broker, which is now part of Marsh. Varghese is a qualified Chartered Accountant and a Fellow of the Institute of Chartered Accountants of India. He is also a Certified Internal Auditor (CIA) with the Institute of Internal Auditors, USA and a qualified CISA professional with ISACA, USA.

He has over 23 years of experience across a wide spectrum of financial services, including portfolio and treasury management. Mr. Nanda joined QIC in 2003 within the investment and treasury function and it is during his tenure, assets under investment management have grown fivefold to over USD 2.5 billion. He is responsible for the day to day management of the department and participates in the strategic decision making of the Group. Prior to joining QIC, Mr. Nanda was with TAIB Bank EC, a leading investment bank in Bahrain. Mr. Nanda is a qualified Chartered Accountant and holds a Bachelor’s Degree in Commerce (Hon’s) from the University of Delhi.

He started his career in 1991 with Hannover Re. Over the last two decades he has worked for a number of reputable reinsurance companies establishing a track record of successfully building and integrating high -profile teams of industry specialists across all major property & casualty classes as well as specialty lines. More recently, Gunther has worked as head of Reinsurance at Endurance in London and served as founding Chief Executive and Chief Underwriting Officer of Novae Re, a multi-line reinsurance operation in the Lloyd’s market. Gunther graduated in Philosophy from the Sorbonne (Paris I) and from the University of Hamburg.

Mr. Stephen Redmond has been Managing Director since the launch of Antares in 2007. He commenced his career in insurance in 1975 when he joined General Accident group; attaining the position of Hull, Energy and Liability Manager in 1986. That same year Stephen joined Eagle Star and in 1994 assumed the position of Underwriting Manager within Eagle Star Re. He became Underwriting Director in 1996 and subsequently Underwriting and Claims Director. He joined Württembergische Versicherung AG in 1999, being promoted to Managing Director in 2002. Stephen has held numerous London market committee positions, including Chairman of the Institute of London Underwriters (ILU).

Saji has been with QIC Group since 2007 and was earlier involved in compliance, internal audit, corporate governance, risk management and internal control related functions. He started his career in general insurance in Mumbai in 1985 with the New India Assurance Co through the Assistant Administration Officer (A/cs & Audit) national selection test. He was also a part of the team that pioneered introduction of credit insurance in the public sector insurance environment in India. Eventually he assumed responsibility for its countrywide operations before relocating to the Middle-East. Saji is a Fellow of the Insurance Institute of India (FIII), a Certified Internal Auditor (CIA) from the Institute of Internal Auditors (IIA), USA and holds a Bachelor’s Degree in Commerce. He is also a Fellow of the Institute of Chartered Accountants of India (FCA).

Mark was appointed Chief Risk Officer for QIC in January 2016. This new role comprises Group-level responsibility for Risk Management, Exposure Management, Actuarial, Capital Modelling, Compliance and Corporate Governance. At the time of QIC’s acquisition of Antares in 2014 he was Chief Risk Officer and Chief Operating Officer, a position he had held since joining Antares in 2012. Prior to joining Antares, Mark headed his own company, Acuitas Consulting Ltd, which provided strategic and operational advice to insurance businesses in the London market. Mark previously spent ten years working for Chaucer Holdings PLC, a FTSE-250 listed company, initially as Group Actuary and later as Chief Financial Officer. Prior to his time at Chaucer, Mark was Chief Actuary at Ashley Palmer Ltd. He started work in the insurance industry in 1987, having completed a BSc in Geophysics and an MSc in Mining Geology and Mineral Exploration. Mark is a Fellow of the Institute of Actuaries.