Gunther SAACKE has informed the BoD of QATAR Re of his intention to step down as CEO of the reinsurer at the next Board meeting, scheduled for March.

The BoD has accepted his decision. Gunther SAACKE will be leaving the Company later on in the year.

The company informed that Michael van der STRAATEN, Chief Underwriting Officer for Long Tail and Specialty Classes, will be appointed as acting CEO.

"On behalf of QIC, I would like to thank Gunther for his outstanding and significant contribution to QATAR Re. Under his strong strategic and operational leadership QATAR Re has developed into a formidable franchise, placed among the global Top 30, and is recognized as a modern and reliable reinsurer around the world", said Khalifa Al Subbay, Group CEO & President of QATAR Insurance Company (QIC), Qatar Re's parent company.