QIC Group chairman Sheikh Hamad bin Faisal bin Thani Jasim Al Thani with the board of directors at the Annual General Assembly Meeting.
Doha, Qatar: Qatar Insurance Group (QIC), the leading insurer in Qatar and the MENA region, convened its Annual General Assembly Meeting, yesterday, at the Ritz Carlton Hotel in Doha. The company presented its Annual Report highlighting outstanding financial performance and strategic growth across the business.
The meeting was chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of the Board, and was attended by members of the executive management, shareholders, and representatives of regulatory authorities.
The meeting discussed the Board of Directors’ report on the Company’s activities and financial position during the year ended 31/12/2024, the company’s future plans, balance sheet, and profit and loss account for the year. Additionally, the meeting approved the auditors’ report on the company’s financial statements for the year 2024, the Corporate Governance Report, and the company’s remuneration policy for the year 2025.
Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of the Board of Directors of Qatar Insurance Group, remarked: “QIC’s net profit for the year reached QR735m, marking a 19% year-on-year increase, as the company demonstrated remarkable resilience amidst global market challenges. This growth reflects the successful implementation of our strategic priorities. Our focus on profitable regional growth, particularly through personal lines and health segments, has paid off, with our domestic and regional Gross Written Premiums increasing by 39% to QR4.8bn. This shift, along with our exit from underperforming and high risk international markets, has further strengthened QIC’s position as the region’s largest insurance group."
The Board of Directors approved the distribution of dividends at the rate of 10% of the nominal value of the share at the rate of 10 dirhams per share.
The meeting also saw the discharge of the members of the Board of Directors (subject to the approval of the Qatar Central Bank), approval of their remuneration, and the related party policy of the company for the year 2025. Additionally, the appointment of KPMG as auditors for the fiscal year 2025 was approved, along with their fee.
