(MENAFN- Qatar News Agency) g. Saad Al Muhannadi further said "The significant participation by the local players in this major insurance program demonstrates the strength of the domestic risk cover market and their potential to make robust contribution towards the overall economic development of the State of Qatar fully aligned to the Qatar National Vision 2030". For his part Ali S. Al Fadala the Senior Deputy Group CEO of QIC Group said in similar remarks "The Consortium of National Insurance Companies thanks the steering committee of Qatar Rail for their full support and trust in placing this prestigious project insurance through us. This support to the Qatari Companies and using their long history of professionalism and capabilities in the insurance field benefits the local economy. 'This also proves that the national insurance industry in Qatar has the capabilities to handle large scale projects of any size and complexity and provide services of highest standards to its clients" said Ali S. Al Fadala. In total a majority (80%) of the risk is retained by domestic insurance companies. The lead reinsurer is Liberty (UK) and the broker appointed by Qatar Rail is Marsh. Meanwhile Jon Marsh Vice Chairman Global Construction Practice said "Marsh take great pride in our appointment to this prestigious role which is the beginning of a significant partnership and journey. We are also very pleased that we were able to achieve the result in support of Qatar's economy using our global expertise delivered locally." Prasad Aniyil CEO Marsh Qatar on his part observed "It was yet another opportunity for Marsh to demonstrate our commitment to Qatar its insurance market and the Qatar National Vision 2030." The 231 km Doha Metro forms an integral part of Qatar's overall railway network and will rank among the most modern and advanced integrated railways network in the world. It is to be executed in twin stages with the Phase 1 involving the 131 km and 48 stations (underground 63 km elevated 48 km and at grade 20 km. the Phase 2 will see the construction of 100 km(underground 37 km elevated 53 and at grade 10 km) with 44 stations.(END)
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