Al Alfia Holding acquires stake in Seib insurance and reinsurance company

Al Alfia Holding acquires stake in Seib insurance and reinsurance company

DOHA, Qatar: Al Alfia Holding, the prominent Qatari-based investment group, has acquired a minority stake in Seib Insurance and Reinsurance Company LLC, a Qatari company and one of Qatar’s premium insurance providers.

The acquisition of the stake is expected to play a major role by reinforcing Seib’s leading position in the domestic market, and by supporting the continuing expansion of the Qatari insurer’s operations in order to keep pace with the growing needs of its clientele.

Al Alfia Group is keen to partner with Seib Insurance because of its status as a well-performing, first-class company with strong governance, outstanding management, impressive S&P Global ratings, and a sterling reputation across the industry, all of which make Seib a valuable contributor to the development of the Qatari economy, and to progress towards the goals of Qatar’s National Vision 2030.

With this acquisition, Al Alfia Group will be represented on Seib’s Board of Directors, allowing it to actively participate in the trusted insurer’s strategic decision-making.

Commenting on the acquisition, Johnny DeGouveia, Group Chief Operating Officer of Al Alfia Group, said: “As a leading Qatari investment holding group with a robust and diversified portfolio across key growth sectors and markets around the world, Al Alfia is always committed