QIC held its Annual General Assembly Meeting in Doha, chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani. The meeting showcased a 19% increase in net profit to QR735 million and discussed future plans, dividend distribution of 10%, and the appointment of auditors KPMG for 2025. The company’s focus remains on profitable regional growth, particularly in personal and health insurance sectors.
Qatar Insurance Company (QIC), a leader in the insurance market of Qatar and the MENA region, held its Annual General Assembly Meeting at the Ritz Carlton Hotel in Doha, chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani. The assembly included key attendees such as executive management, shareholders, and regulatory representatives, and featured the presentation of the company’s Annual Report, showcasing strong financial performance and growth gains.
During the meeting, the Board of Directors reviewed the company’s report detailing activities and finances for the fiscal year ending December 31, 2024. Topics also included discussions on future plans, balance sheets, and profit and loss statements. The shareholders approved the auditors’ report, the Corporate Governance Report, and the remuneration policy for 2025.
Sheikh Hamad emphasized QIC’s successful financial outcomes, reporting a net profit of QR735 million, which is a 19% increase year-over-year despite global market challenges. He highlighted the effectiveness of strategic initiatives focused on profitable regional growth, especially in personal lines and health insurance, which boosted Gross Written Premiums by 39% to QR4.8 billion, further solidifying QIC’s status in the region.
The Board approved a 10% dividend distribution based on the nominal share value, equating to 10 dirhams per share. There was also an agreement to discharge board members (pending Qatar Central Bank approval), as well as to approve their remuneration and the related party policy for 2025. Furthermore, KPMG was appointed as auditors for fiscal year 2025, with their fees confirmed during the meeting.
The Annual General Assembly Meeting of Qatar Insurance Group highlighted its strong financial outcomes and strategic growth efforts. The approved dividend reflects confidence in the company’s resilience and profitability, while the focus on regional expansion positions QIC as a leading insurer in the MENA sector. Key governance and audit decisions were also made to ensure ongoing compliance and oversight.
Original Source: thepeninsulaqatar.com
