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Commercialbank, Qatar Insurance form new joint venture firm

Commercialbank and Qatar Insurance have formed a new joint venture company to provide a range of tailored insurance catering to different customer needs.

The new joint venture company called Massoun will offer insurance solutions to customers of Qatar’s Commercialbank.

Qatar Insurance Group CEO and president Khalifa Al Subaey said both Commercialbank and QIC have deep roots in Qatar and a pan GCC presence, not to mention a proven track record in providing customer oriented solutions. This partnership will provide great opportunities for increasing customer satisfaction and for the deepening of customer relationships for both organizations.

Commercialbank GCEO Andy Stevens said that the strength of the Commercialbank brand, the significant reach of its branch network and remote banking channels coupled with QIC’s insurance product range and processing expertise makes for a compelling customer proposition.

"We look forward to being able to offer our customers a broad range of one-stop-shop insurance solutions on both a conventional and Shari’a basis," Stevens said.