Posted on January 24, 2017

These results were achieved whilst the global economy faced challenges due to growing political uncertainty, a depressed investment environment, reducing international trade and fluctuating commodity prices (including oil and gas).

QIC has been successful in implementing both geographical and product diversification. Global business diversification of the Group’s operations was achieved by our focus on reinsurance through Qatar Re, access to the Lloyd’s market through  Antares, access to direct and structured business in Europe through QIC Europe Limited (QEL) and by boosting regional business written in Gulf countries through Q Life & Medical (QLM) and its regional branches and companies. The Group witnessed strong improve in operational performance, in which the Investment management has always been the bedrock of stability and an important performance engine for the Group.

This has enabled QIC and its primary subsidiaries to consistently maintain its rating of A/Stable from Standard & Poor’s and A (Excellent) from A.M. Best. Our outlook for 2017 is cautiously positive Projected increase in energy and commodity prices, even if minor, may provide an economic impetus to the energy commodity exporting economies. Against this background, we will stick to our proven strategy and continue to explore underwriting and investment opportunities for prudent and sustainable growth and attractive returns for our shareholders.

Based on the above good results, the board of directors has proposed a 15% of share’s par value as a cash dividend equivalent to QR 1.50 per share in addition to a bonus share of 15%,in the ratio of 3 share for every twenty shares. It was resolved to place this proposal for approval at the annual general meeting on 19 February 2017 at Four Season hotel, 4 pm.

Highlights:

  1. Gross written premium increased at a rate of 19% as compared to last year 2015, to QR 9,901 Million
  2. Net underwriting results decreased by 9%, amounted QR 844 million compared to QR 926 million for last year 2015
  3.  Investment & other income increased by 3% as compared to last year 2015 to be QR 925 Million.
  4. Company’s net profit attributable to parent is QR 1,034 million which is close to 2015 results amounted to QR 1,043 million
  5. Earnings per share for 2016 is QR 4.48 compared to QR 4.84 for last year 2015
  6. Shareholders equity attributable to parent as of 31 December 2016 is QR 8,236 million compared to QR 5,812 million on 31 December 2015

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