Qatar Islamic Insurance Group disclosed its reviewed financial statements for the period ended 31.3.2021. The statement shows that shareholders net profit is QR 23,709 Million compared to net profit amounting to QR 25,010 Million for the same period of the previous year.
Earnings per Share (EPS) amounted to QR 0.16 for the period ended March 31, 2021 compared to EPS amounted to QR 0.17 for the same period of the previous year.
the rating agency A.M. Best has upgraded the Qatar Islamic Insurance Group Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” from “bbb+” of the Group. The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
The ratings reflect QIIG’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance
the General Assembly Meeting for the Qatar Islamic Insurance Group was held on Monday 5.4.2021, the quorum was achieved and the following resolutions are approved :-
1-Approval of the report of the Board of Directors for the Year Ended 31.12.2020.
2-Approval of the report of the Shari’a Supervisory Board for the Year Ended 31.12.2020.
3-Approval of the report of the Independent Auditors for the Year Ended 31.12.2020.
4-Approval of the Policyholders and Shareholders’ Financial Statements for the Year Ended 31.12.2020. And approved of the recommendation made by the Board of Directors to distribute cash dividends equaling 32,5 % of the shares nominal value i.e. QR 0,325 per share for the Year Ended 31.12. 2020
5-Absolving the Board of Directors of all responsibility and granting there remunerations for the Financial Year 2020.
6-Approved of the report of the Governance for the year 2020.
7-Approved appointing M/S. Ernst & Young as the Company’s new Independent Auditors for the Financial Year 2021.
Investors Relation Conference Call for Qatar Islamic Insurance Group will be held to disclose financial results for 1st Quarter 2021 ended 31.3.2021 on Monday 3.5.2021 at 12.30 pm, as well as to answer the inquires and questions that we will be received .
QIIG board of directors will held meeting on Wednesday 28.4.2021 to disclosed its financial statement for the 1st quarter of 2021 ended on 31.3.2021.
Due to government instructions it has been decided to change the method to held the General Assembly Meeting for Qatar Islamic Insurance Group to be Zoom instead of attend personally in the Main Office, meeting will take place on Monday 5.4.2021 at 6.30.
The Board of Directors of Qatar Islamic Insurance Group (Q.S.G.C.) is pleased to invite the Shareholders’ for the General Assembly Meeting to be held on Monday 5.4.2021 at main office of the group in C ring road at 6.30 p.m., in case the desired quorum for the first meeting is not achieved then the second reserved meeting will be held on Sunday 11.4.2021 at the same place and time.
AGENDA FOR GENERAL ASSEMBLY MEETING
1. To hear and discuss the report of the Board of Directors on the activities of the Group and the financial position for the Year ended 31.12.2020 of the Group and approve it .
2. To hear the report of the Shari’a Supervisory Board for the Financial Year ended 31.12.2020 and approve it.
3. To hear and discuss the Independent Auditors’ report on the Group’s financial statements presented by the Board of Directors for the Financial Year ended 31.12.2020 and approve it.
4. To discuss the Group Policyholders and Shareholders’ financial statements for the Year ended 31.12.2020. And to approve the recommendation made by the Board to Distribute cash dividend of 32,5 % of the share’s nominal value, i.e. QR 0,325 for each share held, to the shareholders for 2020 and approve it.
5. To absolve the Board of Directors from responsibility for the Financial Year ended 31.12.2020 and to determine their remuneration for the year 2020.
6. Discuss the report of the Governance 2020 and approve it.
7. To appoint the Independent Auditors for the Financial Year 2021 and to determine their fees and approve it.
• A shareholder who cannot attend the Meeting in person may appoint another shareholder to represent him/her in writing . A shareholder may not appoint a Board Member as a proxy, and the number of shares held by a shareholder as a proxy should not, under any circumstances, exceed 5 % of total issued shares. Companies’ representatives are requested to present an authorization letter appointing them as representatives in the Meeting.
• The registration will start 1 a hour before begin meeting.
Word and Chairman’s Report
Report of the head of the Sharia Supervisory Board
This is to inform you that it has been decided to move the meeting place for the AGM for Qatar Islamic Insurance Group, which is scheduled to be held on Monday 5.4.2021, to the Group’s Headquarter in C Ring Road instead of Ezdan Towers Hotel.
Qatar Islamic Insurance Group disclosed its reviewed financial statements for the period ended 31.12.2020. The statement shows that shareholders net profit is QR 75,728 Million compared to net profit amounting to QR 72,675 Million for the same period of the previous year.
Earnings per Share (EPS) amounted to QR 0.50 for the period ended December 31, 2020 compared to EPS amounted to QR 0.48 for the same period of the previous year.
The Board recommended distribution of Cash Dividends of 32.5 % from the share par value i.e. QR 0.325 for each share for the year 2020.