QIIC Discloses Its Financial Statement (Reviewed) For The Three Months Period Ended March 31, 2019

Qatar Islamic Insurance Company disclosed the interim financial statement (reviewed) for the three months period ended March 31, 2019. The financial statements revealed a net profit of QR 24,868 Million in comparison to net profit QR 23,114 Million for the same period of the previous year.
The earnings per Share (EPS) amounted to QR 1,66 as of March 31, 2019 versus EPS QR 1,54 of the same period in 2018.

Results of the Ordinary General Assembly Meeting on 31/03/2019

the Ordinary General Assembly Meeting for the Company was held on Sunday 31.3.2019, the quorum was not achieved for the Extraordinary GAM of the QIIC, therefore the second meeting (substitute) will be held on Sunday 7.4.2019 at 5 pm at lazurd hall at Ezdan Tower..

The following are the resolutions that approved by Ordinary GAM :-

1- Approval of the report of the Board of Directors and their plans for the Year Ended 31.12.2018.

2- Approval of the report of the Shari’a Supervisory Board for the Year Ended 31.12.2018.

3- Approval of the report of the Independent Auditors for the Year Ended 31.12.2018.

4- Approval of the Policyholders and Shareholders’ Financial Statements for the Year Ended 31.12.2018. And approved of the recommendation made by the Board of Directors to distribute cash dividends equaling 35% of the shares nominal value i.e. QR 3,5 per share for the Year Ended 31.12.2018

5- Absolving the Board of Directors of all responsibility and granting there remunerations for the Financial Year 2018.

6- Approved of the report of the Governance for the year 2018.

7- Approved appointing M/S. K P M G as the Company’s new Independent Auditors for the Financial Year 2019.

A.M. Best Rating for QIIC

A.M. Best has affirmed the Financial Strength Rating of  B++ and the Long-Term Issuer Credit Rating of  “BBB+” of Qatar Islamic Insurance Company Q.S.C. (QIIC). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect QIIC’s balance sheet strength, which AM Best categories as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management (ERM).