Qatar Islamic Insurance Group (QIIG) and Allianz International and its associates in insurance operations celebrated the signing and inauguration of the exclusive agreement in health insurance cooperation that has been concluded between Qatar Islamic Insurance Group (QIIG) and the strategic partner, M/s. Allianz International which is considered as one of the leading companies in respect of health insurance in the world.
The ceremony has started today, Tuesday, August 18, 2020 via remote communication technique due to the precautions taken because of COVID-19.
Mr. Ali Ibrahim Al Abdulghani, the Group President of Qatar Islamic Insurance Group addressed the ceremony welcoming everybody and assuring that Qatar Islamic Insurance Group always does not spare effort in looking for the best way and means to provide the best services to its customers. Therefore, its choose was to be a partner with the leading health insurance company in the world, which is Allianz, noting that this exclusive partnership will enable QIIG to provide the best and faster service to its customers in the State of Qatar and across the world as well.
Qatar Islamic Insurance Group disclosed the interim financial statement for the six months period ended 30.6.2020. The financial statements revealed shareholder a net profit for of QR 42,489 Million in comparison to net profit QR 48,283 Million for the same period of the previous year.
The earnings per Share (EPS) amounted to QR 0,283 as of June 30, 2020 compared to EPS QR 0,322 for the same period in 2019.
QIIG board of directors will be holding their board meeting on Tuesday 28.7.2020 to disclosed its financial statement for the 2nd quarter of 2020 ended on 30.6.2020.
Investor Relations Conference shall take place on Sunday 9.8.2020.
Qatar Islamic Insurance Group disclosed the interim financial statement for the three months period ended 31.3.2020. The financial statements revealed a net profit of QR 25,010 Million in comparison to net profit QR 24,868 Million for the same period of the previous year.
The earnings per Share (EPS) amounted to QR 0,17 as of March 31, 2020 compared to EPS QR 0,16 for the same period in 2019.
the date of disclosure of QIIG results of 1st quarter of the financial statements for the period ended on 31.3.2020 to be Thursday 30.4.2020 instead of Monday 27.4.2020, Furthermore the Investors Relation Conference Call will be on Tuesday 5.5.2020 instead of Wednesday 29.4.2020
Arab Financial Inclusion Day under the theme of “Towards Building Financial Literacy that promotes Financial Inclusion”
The Investors Relation Conference Call for QIIG will be take place on Wednesday 29.4.2020 to disclose financial results for the 1st quarter ended 31.3.2020 at 1.30 pm, as well as to answer the inquires and questions that we will be received.
QIIG board of directors will held meeting on Monday 27.4.2020 to disclosed its financial statement for the 1st quarter of 2029 ended on 31.3.2020.
the Ordinary General Assembly Meeting for the Qatar Islamic Insurance Group was held on Sunday 12.4.2020, the quorum was achieved and the following resolutions are approved :-
1- Approval of the report of the Board of Directors and their plans for the Year Ended 31.12.2019.
2- Approval of the report of the Shari’a Supervisory Board for the Year Ended 31.12.2019.
3- Approval of the report of the Independent Auditors for the Year Ended 31.12.2019.
4- Approval of the Policyholders and Shareholders’ Financial Statements for the Year Ended 31.12.2019. And approved of the recommendation made by the Board of Directors to distribute cash dividends equaling 37,5 % of the shares nominal value i.e. QR 0,375 per share for the Year Ended 31.12.2019
5- Absolving the Board of Directors of all responsibility and granting there remunerations for the Financial Year 2019.
6- Approved of the report of the Governance for the year 2019.
7- Approved unanimously and with the total number authorized to vote the nine board members won by acclamation for a period of the next 3 years (2020 – 2022), and they are as the following :-
SR Board Member Name / Representative Name Share No.
1- Al Wifaq Company for Engineering & Construction – Represented by Sheikh Abdulla Bin Thani Bin Abdulla AL-Thani – Non independent
2- Mr. A/Rahman A/Jalil A/Ghani Al-Abdulghani – Non independent
3- Tareeq Al Haq Company for Commerce
Represented by Sheikh Mohd Bin Thani AL-Thani – Non independent
4- Dar Al Thuraya Company for Commerce – Represented by
Sheikh Turky Bin Khaled Bin Thani AL-Thani – Non independent
5- Medical Care Group
Represented by Mr. Khaled Mohd Asad AL-Emadi – Non independent
6- Thubair Group for Investments – Represented by
Sheikh Abdulla Bin Khaled Bin Abdulla AL-Thani – Non independent 41381
7- Mr. Rashed Nasser Rashed S. AL-Kaabi – Independent 63523
8- Mr. Jamal Abdulla Ahmad AL Jamal – Independent 35308
9- Mr. Hamad Abdulla Mohd Shareef AL-Emadi – Independent 27228
8- Approved the appointment of three members of Sharia Supervision Committee for the next 3 years (2020 – 2022), and they are as the following :-
* Sheikh Dr. / Ali Mohei El Din AL-Quradaghi – Head of Committee
* Sheikh Dr. / Yahya Hamad AL-Nuaimi – Board Committee
* Sheikh Dr. / Mohd Salem AL- Yafei – Board Committee
9- Approved appointing M/S. K P M G as the Company’s new Independent Auditors for the Financial Year 2020.
The new board of directors held its first meeting directly after the end of Ordinary General Assembly Meeting, H.E.Sheikh Abdulla Bin Thani AL-Thani was chosen to be Chairman of the Board of Directors and Mr. A/Rahman A/Jalil AL-Abdulghani as Vice Chairman.
The rating agency A.M. Best has revised the outlook to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “BBB+” of Qatar Islamic Insurance Group Q.P.S.C.
The ratings reflect QIIG’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. The revision of the outlook to positive reflects AM Best’s expectation that QIIG will continue to generate strong operating returns over the short to medium term.