Qatar Insurance Company, share capital and profits up

The General meeting of Qatar Insurance Company (QIC) approved the recommended share capital increase by 68.7 million USD submitted by the Board of Directors. The new share capital of the insurer will be increased at 508.4 million USD, compared to 439.7 million USD, previously.

Among other decisions taken by the assembly, the most notable are:

  • approval of an amendment authorizing an increase in the level of permitted non-Qatari investment in QIC
  • approval of the dividend distribution for 25% of the value of each share

As a reminder, QIC achieved a turnover up by 59% at 1.5 billion USD in 2014, for a net technical result of 182.5 million USD (+37%).

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