Category: News

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Al Alfia holding acquires stake in Seib insurance and reinsurance company

DOHA, Qatar – 22 February 2023: 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 to investing in companies with encouraging performances and promising futures such as Seib Insurance.” He added, “Our partnership with Seib Insurance will serve as a major boost to its overall performance on the one hand, and a boon to the Qatari insurance market on the other. We look forward to enjoying a fruitful, cooperative relationship that will contribute positively to Qatar’s economic development.”

HE Sheikh Jabor Bin Yousef Bin Jassim Bin Jabor Al-Thani, Chairman of the Board of Directors at Seib Insurance, voiced similar optimism. “Seib is proud of this strategic partnership with Al Alfia Group, which will reinforce our position as a reliable insurance company of choice in Qatar,” he said. “As we continue to maintain Seib’s history of encouraging ratings from S&P Global, we are confident that this partnership will accelerate our growth trajectory and improve our business performance.” He added: “We are excited to have Al Alfia Group on the Board of Directors, and we trust that this collaboration will serve the interests of our clients and our shareholders, as well as Qatar’s insurance industry as a whole.”

Founded in 2010, Seib is a Qatari insurance company licensed by the Qatar Financial Centre Regulatory Authority (QFCRA). Seib continuously strives to offer insurance solutions that help develop the trust of corporate and individual customers alike through convenient and easy distribution channels, supported by the largest and most powerful reinsurance companies in the world.

Founded in 2007, Al Alfia is a leading Qatari-based investment holding group with a robust portfolio spread across key growth sectors and markets around the world. The Group is active in infrastructure, real estate, energy, hospitality and communal development, and its direct and indirect investments cover a host of sub-sectors and specializations, including property development and construction, facilities management, oil and gas, specialized manufacturing, financial services, education, and retail. This diverse offering has powered the Group’s expansion into key regional and global markets, with footprints across the Middle East, Africa, Southeast Asia, Australasia, Europe, and North America.

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SEIB Insurance and Reinsurance announces its partnership with QMED 2019 as the Silver sponsor

Collaborating with Qatar’s largest and flagship medical trade event, SEIB Insurance and Reinsurance has announced its Silver sponsorship of the second edition of QMED 2019 (Qatar International Medical Devices & Healthcare Exhibition and Conference). Held at the QNCC (Qatar National Convention Center) over a 5,000 square-meter space, the exhibition will take place between March 25 and March 27.

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Double Nojoom points promo with Seib returns!

The double Nojoom point promotion with Seib Insurance and Reinsurance Company is back “due to popular demand”, Ooredoo as announced.

Ooredoo said in a statement yesterday that the first promotion, which was available earlier this year, saw a “huge response” as Nojoom members looked to be rewarded with double Nojoom points, as well as a “reduced insurance rate as low as 2.25%”, for purchasing insurance for their vehicle with Seib Insurance Company.

Nojoom members who purchase Seib motor insurance will also be able to take advantage of free roadside assistance in Qatar, a zero deductible on claims for new vehicles, the policy getting delivered to their door, and more.

The offer will be available for all Nojoom members until September 30. To take advantage of the promotion, members can visit Seib Insurance and Reinsurance Company at the Sheikh Jabor Bin Yousef Bin Jassem Al Thani Building on Airport Road.

Manar Khalifa al-Muraikhi, Ooredoo director of PR and Corporate Communications, said: “We’re proud to once again offer this promotion with Seib Insurance, and we hope all Nojoom members who missed out last time get the chance to take advantage of the double points and amazing benefits.”
For more information on Nojoom partners and how to enrol with Nojoom, customers can visit the Nojoom page of the Ooredoo website at, download the Ooredoo app or visit any Ooredoo shop.

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Seib introduces new insurance plan for workers

Seib Insurance & Reinsurance Company (Seib) yesterday announced that it has introduced a new integrated insurance plan for low income workers, which include domestic workers and nannies, to keep them safe, secure and healthy.
The new product is an initiative following the recent Emiri Decree on the protection of domestic workers’ rights, as stipulated by Law No 15 of 2017.
In a statement Seib said that the product comes in the context of its efforts to help set the new law in motion, while taking care of the workers’ routine medical needs.

With the new law directing employers to provide medical care to their domestic helpers, cooks, cleaners, nannies and other workers, Seib’s new insurance plan has been designed to cover the workers’ medical and protection needs, including during non-working hours for an equivalent of as low as QR2 per day.

In addition to an out-patient insurance programme, which gives the insured unlimited consultations and follow ups with general practitioners and specialists, basic laboratory, radiology services and medicines in conformity with the offered benefits, the plan includes a family support benefit up to QR30,000 should the worker suffer accidental death or permanent/temporary disability.

To make the package more comprehensive, insured workers will also be able to take advantage of the cover during non-working hours, with the possibility of adding more features to the offer in the future.
“At Seib, we felt that it is our duty to positively contribute to this laudable drive, by providing workers with a comprehensive insurance plan that cover all their needs, yet is extremely affordable for employers. From an employer perspective, this plan also helps monitor and maintain the health status of their employees in a well-organised manner,” said Elias R Chedid, COO and Deputy CEO at Seib.

He added: “We believe that our new plan will be a valuable addition to our extensive range of insurance solutions, as well as a great contribution to the domestic workers’ protection drive.”

Seib’s corporate insurance solutions include property and first party assets, engineering and construction, energy, marine, financial lines, casualty, motor fleet insurance, aviation hull and liability, travel, and group medical insurance solutions, while its retail insurance products and services include, motor, homeowners’, pleasure boats, personal accident, local and international medical, and travel insurance solutions.