Tagged: Qatar Islamic Insurance Company

QIIC profit edges up to QR35.84mn in H1

QIIC profit edges up to QR35.84mn in H1

<p>Qatar Islamic Insurance Company has reported a 3% rise in first-half net profit to QR35.84mn despite expenses growing faster than income mainly due to a 13% rise in general and administrative costs. Income from investments in associates almost quadrupled to QR3.97mn, rental income grew 16% to QR4.53mn, wakala fee by 8% to QR23.98mn and other income by 28% to QR1.06mn. However, income from shareholders&rsquo; investments shrank 30% to QR6.73mn and shareholders&rsquo; share in policyholders&rsquo; investment income by 5% to QR7.74mn. Nevertheless, total income grew 5% to QR48mn. Total assets were valued at QR662.22mn comprising policyholders&rsquo; assets of QR365.41mn and shareholders&rsquo; assets of QR296.81mn. Total shareholders&rsquo; equity stood at QR263.39mn on a capital base of QR150mn and earnings-per-share was QR2.39 at the end of June 30, 2013.</p>
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<p><a href="http://www.gulf-times.com/business/191/details/361398/qiic-profit-edges-up-to-qr3584mn-in-h1" title="http://www.gulf-times.com/business/191/details/361398/qiic-profit-edges-up-to-qr3584mn-in-h1">http://www.gulf-times.com/business/191/details/361398/qiic-profit-edges-…</a></p>
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QIIC to consolidate its market position this year: Chairman

QIIC to consolidate its market position this year: Chairman

According to Qatar Islamic Insurance Company (QIIC) Chairman Sheikh Abdulla bin Thani Al Thani, the company recorded good results in 2012 by generating a premium of QR206m and aggregate net profit of QR74m, of which net policyholders’ surplus amounted to QR16m.He noted the shareholders’ profit reached QR58m, constituting earnings per share of QR3.5. The Board of Directors, in co-ordination with the Shariah Supervisory Board, has decided to reimburse policyholders with cash surplus equaling 20 percent of the premiums written in 2012. The general assembly approved the company’s nine-point agenda, including its financial statements for the year 2012 and election of two people in the current QIIC Board of Directors.

Pak-Qatar Family Takaful inks deal with Dawood bank

Pak-Qatar Family Takaful inks deal with Dawood bank

A key joint venture of Qatar Islamic Insurance Company in Pakistan has in collaboration with a local bank and FWU AG launched lucrative Shariah-compliant long-term savings schemes.
Pak-Qatar Family Takaful Limited has inked a deal in Karachi with Dawoo…