Qatar Insurance Group held its Annual General Assembly Meeting in Doha, presenting a strong report on its 2024 performance. The meeting, chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, included discussions on future growth and financial strategies. Key decisions included a 10% dividend distribution and the appointment of KPMG as auditors for the upcoming fiscal year.
Qatar Insurance Group (QIC), a prominent insurer in Qatar and the MENA region, conducted its Annual General Assembly Meeting at the Ritz Carlton Hotel in Doha. The meeting, chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of the Board, gathered executive management, shareholders, and regulatory representatives to review the company’s Annual Report and discuss its performance over the previous year.
During the meeting, the Board of Directors presented a report detailing QIC’s activities and financial status for the year ending December 31, 2024. The discussions encompassed the company’s planned initiatives, balance sheet details, and its profit and loss account, culminating in the approval of auditors’ reports and governance documents for the upcoming year.
Sheikh Hamad bin Faisal bin Thani Jasim Al Thani stated, “QIC’s net profit for the year reached QR735m, marking a 19% year-on-year increase… This growth reflects the successful implementation of our strategic priorities.” He emphasized the company’s success due to profitable regional growth and a shift towards the personal lines and health segments, with gross written premiums increasing significantly.
The Board also approved a dividend distribution of 10% per share, amounting to 10 dirhams. Additionally, the members of the Board of Directors were discharged, subject to the approval of the Qatar Central Bank, along with the endorsement of their remuneration policy and the company’s related party policy for 2025. KPMG was appointed as auditors for the fiscal year 2025, along with discussion of their compensation.
The Annual General Assembly Meeting of Qatar Insurance Group highlighted the company’s robust financial performance and growth strategies for the year 2024. With significant increases in net profit and gross written premiums, QIC is poised for continued success in the insurance sector. The board’s decisions on dividends, auditor appointments, and governance policies underscore its commitment to maintaining strong corporate practices.
Original Source: thepeninsulaqatar.com
