Qatar Insurance Group Reports Strong Financial Performance at Annual Meeting

Qatar Insurance Group (QIC) convened its Annual General Assembly Meeting in Doha, presenting a strong financial report with a net profit of QR735 million, a 19% increase year-on-year. The assembly approved dividend distributions, evaluated future strategies, and appointed KPMG as auditors for the 2025 fiscal year, reflecting robust corporate governance and financial integrity.

The Annual General Assembly Meeting of Qatar Insurance Group (QIC) was held recently at the Ritz Carlton Hotel in Doha. The event convened with Sheikh Hamad bin Faisal bin Thani Jasim Al Thani chairing the meeting alongside the Board of Directors. QIC presented its Annual Report, which highlighted impressive financial results and significant business growth.

During the meeting, the Board of Directors reviewed the Company’s activities and financial status for the year ending December 31, 2024. Discussions included the future plans, balance sheet, and profit and loss account. The assembly also ratified the auditors’ report for the financial statements of 2024, the Corporate Governance Report, and the Company’s remuneration policy for 2025.

Sheikh Hamad bin Faisal bin Thani Jasim Al Thani 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.” He further noted that the substantial growth reflects successful strategic implementations aimed at enhancing regional growth across various sectors.

The Board of Directors approved a dividend distribution at the rate of 10% of the nominal value of the share, equating to 10 dirhams per share. Furthermore, members of the Board were discharged, pending approval from the Qatar Central Bank, and their remuneration and the related party policy for 2025 were sanctioned. Additionally, KPMG was appointed as auditors for the 2025 fiscal year along with their fees.

In conclusion, the Qatar Insurance Group’s Annual General Assembly Meeting showcased significant financial achievements and strategic advancements. The Board of Directors confirmed a 19% increase in net profit, highlighting the success of their growth strategies. Additionally, the approval of dividends and KPMG as auditors indicates a strong commitment to governance and financial accountability moving forward.

Original Source: thepeninsulaqatar.com