QIC approves distribution of cash dividend of QR0.10 per share – The Peninsula

QIC approves distribution of cash dividend of QR0.10 per share – The Peninsula

Doha: QIC Group held its Ordinary and Extraordinary Annual General Assembly Meetings yesterday, where shareholders discussed and approved to distribute a cash dividend of QR0.10 per share and all other agenda items for both the Ordinary and Extraordinary Annual General Assembly Meeting.

The meeting discussed and credited the Group’s strong performance in 2021 to the successful implementation of the group’s strategic plan that aims to de-risk its international operations, expand its low-volatility activities, diversify its business portfolio and drive forward full fledge digitization of QIC’s domestic and MENA operations. Several strategic milestones in 2021 were cited as main contributors to the Group ending the year with a strong financial performance. The meeting also touched upon the Group’s future plan.

In 2021, QIC’s net profit increased by 400 percent year-on-year to QR630m. The Group’s gross written premiums remained stable at QR12.6bn, compared to QR12.20bn in 2020. Over half of the Group’s gross written premiums emanate from personal lines insurance written in the Middle East, U.K. and Continental Europe. In 2021, QIC’s international operations – Qatar Re, Antares, QIC Europe Limited (QEL) and our Gibraltar- based carriers – accounted for approximately 81 percent of the Group’s total gross written premiums.

QIC once again witnessed a