The Qatar Financial Centre Regulatory Authority has released the 2011 versions of its captive insurance business rules and insurance intermediation business rules.

The rew regulatory frameworks came into force on 1 July and are designed to support the development of Qatar as a regional captive centre.

“Captive insurance offers significant risk management opportunities for companies based in Qatar and the region," said QFC Regulatory Authority deputy chief executive Michael Ryan in a statement. "Our new regime has benefited from extensive consultation with global captive insurance managers and that consultation process has helped us to ensure that the new framework meets international standards and provides a strong foundation for the successful development of a captive and reinsurance market in Qatar.”