Qatar General Insurance 2013 net profit up to QR 2.1bn

February 10, 2014 - 1:18:58 pm

DOHA: Qatar General Insurance and Reinsurance Company has announced an increase in net profit to QR 2.1 billion for the financial year-ended December 31, 2013, according to a Qatar Exchange notification Monday.

The insurance company had reported a net profit of QR 175 million for the fiscal year 2012.

Its Earnings per Share (EPS) amounted to QR 36.96 in 2013 compared to QR 3.04 in 2012.

The company's board also recommended cash dividend QR 1.5 or 15 percent of the share's par value and a bonus share issue of 20 percent of the capital, representing two and a half share for each share held.

The board's recommendations are subject to ratification by the company's general assembly which will convene March 16 at the Doha Marriott Hotel at 4.30pm.

In case the assembly quorum is not met, another meeting will be held March 19 at the same venue, the company said.

Meanwhile, Qatari Investors Group too announced its financial results.

Its net profit for the year ended December 31, 2013 is QR 220.6 million compared to QR 152.2 million in 2012.

Its Earnings per Share (EPS) amounted to QR1.77 in 2013 compared to QR 1.22 in 2012.

The company's board of directors has recommended the distribution of cash dividend of 7.5 percent of the share's par value i.e. QR. 0.75 for each share held.

The recommendation is subject to approval by the Group's Ordinary-General Assembly meeting which will be held at Four Seasons Hotel on February 26 at 4.00 pm.

In case a quorum is not met, the Extra-General Assembly meeting will be held on March 5 at 4:00 pm at the same venue. (QNA)

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