Posted on March 27, 2011

Chedid Re has strengthened its presence in the financial services market by utilizing the insurance transaction software Qatarlyst to provide advanced business processing solutions to its growing client base.

Chedid Re partners now benefit from the decision to adopt Qatarlyst, a new solution developed by the Qatar Financial Centre Authority (QFC Authority) to streamline insurance transactions through the intelligent use of sophisticated yet accessible technology.

Commenting on Chedid Re’s decision to introduce Qatarlyst, Managing Director Mr. Jihad Ghanem said: “Our growth plans across all our markets and products are keeping pace with the market developments. This growth cannot be achieved without state-of-the-art technology. So, we believe that the Qatarlyst solution is the right choice which will provide key benefits for all Chedid Re stakeholders”.

Qatarlyst is a web-based solution accessed via a standard web browser from anywhere in the world, making it both cost-effective and ideal for Chedid Re transactions. With robust security architecture and the ability to link directly and securely to in-house systems, Qatarlyst offers the flexibility of the web with the stability of high-cost internal systems and architectures.

James Sutherland, Qatarlyst’s Chief Executive Officer, said: "We are delighted that Chedid Re has selected Qatarlyst to help them improve efficiency, manage information and control their (re)insurance placement and acceptance activities. Chedid Re’s decision proves that leading brokerage firms have identified Qatarlyst as a trusted business partner offering a winning combination of flexibility and security.”

One of the MENA regions fastest growing reinsurance brokers, Chedid Re delivers comprehensive reinsurance and retrocession treaty and facultative solutions to over 170 insurance companies spread in 22 countries in the MENA region and Europe through offices in Beirut, Dubai, Limassol and Riyadh. Chedid Re has won the prestigious Reinsurance Broker of the Year award from the MENA Insurance Awards in both 2010 and 2011.