QFC 015/2018
Re Q Life & Medical Insurance Company LLC
This case involved a request for an Order to sanction an insurance scheme.
Background
The Application, dated 25 November 2018, filed by the Applicant requesting an Order from the Court, pursuant to Article 100 of the FSR, to sanction a Relevant Scheme (namely the transfer of the Applicant's insurance portfolio from a QFC entity to an entity registered with the Ministry of Economy in the State of Qatar, namely 'QLM Life & Medical Insurance Company WLL');
(ii) A copy of the required Scheme Report, dated 25 November 2018; and
(iii) Additional information, filed by the Applicant, on 27 November, 6 December, 9 December and 13 December 2018 and on 3 January 2019 in support of the Application,
the Court is satisfied that:
(i) the requirements stipulated in Article 100 (1) and (2) of the FSR have been met,
and so the Court orders that, in all the circumstances of the case, it is appropriate to sanction, as of 1 January 2019, the Relevant Scheme in accordance with Article 100 (3) of the FSR.