Qatar Insurance Group (QIC) held its Annual General Assembly Meeting, led by Chairman Sheikh Hamad bin Faisal bin Thani Jasim Al Thani. The meeting highlighted a net profit of QR735m, a 19% increase from the previous year. Key decisions included the approval of a 10% dividend, the Corporate Governance Report, and KPMG as auditors for 2025.
Qatar Insurance Group (QIC), the foremost insurer in Qatar and the MENA region, held its Annual General Assembly Meeting yesterday at the Ritz Carlton Hotel in Doha. The event was presided over by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of the Board. The meeting presented the Annual Report showcasing the company’s exceptional financial performance and strategic growth.
During the assembly, the Board of Directors discussed the Company’s activities and financial standing for the year ending December 31, 2024. They reviewed future plans, the balance sheet, profit and loss account, and approved the auditors’ report on financial statements for 2024. The Corporate Governance Report and the company’s remuneration policy for 2025 were also approved.
Sheikh Hamad bin Faisal bin Thani Jasim Al Thani commented on QIC’s performance, stating: “QIC’s net profit for the year reached QR735m, marking a 19% year-on-year increase, demonstrating remarkable resilience amidst global market challenges. Our emphasis on profitable regional growth, particularly in personal lines and health segments, has proven successful, with Gross Written Premiums increasing by 39% to QR4.8bn.” This achievement has solidified QIC’s position as the largest insurance group in the region.
The Board of Directors proposed a dividend distribution of 10% of the nominal value of shares, equivalent to 10 dirhams per share. The assembly also included the discharge of the Board members, contingent upon Qatar Central Bank’s approval, alongside remuneration approval and the related party policy for 2025. Moreover, KPMG was appointed as auditors for the fiscal year 2025, with their fees also approved.
The Annual General Assembly Meeting of QIC highlighted the company’s robust financial growth and strategic developments. With a significant net profit increase and the expansion of Gross Written Premiums, QIC is poised for further success, particularly in regional markets. The approval of dividends and the appointment of auditors reflect the Board’s commitment to prudent financial management moving forward.
Original Source: thepeninsulaqatar.com
