Qatar General Insurance and Reinsurance Company (QGIRC) is exploring investment opportunities and boosting its competitiveness as part of rewarding shareholders in the future.
This was announced by the insurance company in its board meeting held on Monday. At the general assembly, shareholders unanimously approved the board’s proposal to distribute 10% cash dividends or QR1 per share.
"Despite the intense competitive strains and the challenging operational environment, the group has succeeded in overcoming challenges through establishing a strategy enabling it to conclude viable and remunerative investments at all levels," it said.
The insurer was able to maintain and reinforce its prominent position in the insurance market and industry, besides extending a valuable contribution towards the Qatar National vision 2030.
"We succeeded through our strong capital base and diversified investments portfolio to support our group in continuously meeting its strategy, thus delivering a good performance during the year (2018)," the board said.
During 2018, the company witnessed the official inauguration of the new factory of General Company for Water and Beverages, one of the group’s subsidiaries, for production of pure drinking water “Al-Rawda” in November.
In view of the current situation of the investment markets in the region and following a lengthy consideration of the situation with respect to the company’s branch in Dubai, the board had decided to close this branch. This comes in the backdrop of Qatar being subject to the unjust economic and trade embargo by Saudi-led quartet.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Iran oil exports fall as competition from Russia in Asia grows
Fed rate hike, dollar surge seen headwinds for gold
Pound hits record low; markets fall further
India campaign for rupee trade finds fans from Russia to UAE
Qatar's retail, F&B market to remain resilient, says IPAQ-EY report
Qatar Airways, British Airways complete 'latest phase in expansion' of their partnership
Commercial Bank, Euromoney livestream event on 'Qatar: Outlook and opportunities before and after FIFA World Cup Qatar 2022'
Post-FIFA Qatar seen to offer more investments for US companies
Inflationary pressures impacting oil and gas industry: Al-Kaabi