QIC Group, increase of share capital

Met recently at a general assembly, the shareholders of Qatar Insurance Company Group (QIC) have approved the capital increase of the company from 2.7 billion QAR (745.5 million USD) to 3.2 billion QAR (883.6 million USD).

The Qatari group expects to accelerate its expansion in growth markets such as Asia, Europe and the United Kingdom. QIC Group includes several entities including Qatar Insurance Company, Qatar Re, Antares and QEL.

It has several insurance and reinsurance hubs in Bermuda, Zurich, London, Malta, Singapore and Shanghai.

QIC Group achieved consolidated turnover of 3.2 billion USD in 2017, up by 18% compared to 2016.

Read also | Ranking of insurance companies in Qatar