DOHA: International ratings agency Moody's has rated Qatar Islamic Insurance Company (QIIC) as one of the best Islamic insurers in the world for the second consecutive year in 2009.
Net profits of the company totalled QR51m in the year (2009). The shareholders of the company approved its 2009 financials at the annual general meeting (AGM) here yesterday.
Of the total net profits of QR51m, policy holders' profits amounted to QR17m, while the remaining QR34m went to the shareholders' account, representing earnings per share (EpS) of QR2.27. Insurance premiums collected last year amounted to QR159m, whereas total Assets amounted to QR586.75m as compared to QR584.511m in 2008.
The AGM also approved the recommendation of the company's board of directors to distribute cash dividend of 25 percent (of the nominal value of a share), that is QR2.5 per share.
The AGM endorsed the remunerations for the board members too, totaling QR1.395m, or QR155,000 for each member, for the year under review.
Sheikh Abdullah bin Thani Al Thani, Chairman of the Board, told the shareholders while tabling the 2009 financials that the company was able to post robust results in the year.
He said Moody's, the global ratings agency, for the second consecutive year running has rated the QIIC as one of the best Islamic Insurance companies with regard to capital adequacy and financial strength in the world.
Disclaimer:
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of this Web site does not constitute advice or a recommendation by Middle East FOREX and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this Web site.
In no event shall Middle East FOREX be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the Middle East FOREX Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
Regional Sites