DOHA BANK PLANS SOUTH KOREA OUTLET

Qatar’s Doha Bank is planning to open a representative office in South Korea, increasing speculation it is considering options in the country’s insurance market. The company revealed last month it was eyeing potential investments in brokerage and insurance firms in Asia and the Gulf Arab region. And at the beginning of this year, Doha, which is Qatar’s fifth largest bank, marked its entry into the insurance arena with the launch of Doha Bank Assurance Company (IDnewscentre, Jan 8). That vehicle capitalised at QR100m is licensed to write all classes of business, focusing on a wide range of risks in the commercial sector covering contractors, marine, fire, property, machinery breakdowns, energy, liability and motor risks.