The Qatar Islamic Insurance Group Company held the regular and unusual general assembly meeting yesterday, as the agenda provisions, including profits distributions, were approved for shareholders, which amounted to 50 % of the paid -up capital.
“Your group, thanks to God Almighty, was able to record good results in 2024, which was to achieve insurance contributions of 551,136,023 riyals, as you managed to achieve net profits in the shareholders account in 2024 amounted to 143,696,714 riyals.” The shareholders account achieved a return on the stock of 0.96 riyals, compared to 0.95 riyals for last year, with a growth rate of 1 %. He added: There is no doubt that the group’s progress and development depends on achieving the strategic plan approved for the years 2025-2027, which aims to increase the group’s share in the Qatari insurance market, raise the profitability and quality of the installment portfolio, rationalize work procedures and provide technical support to associate companies inside and outside Qatar, diversify the sources of investment and raise the percentage of Emiratisation.
He explained .. In light of these good financial results, and after coordination with Sheikh Dr. Walid bin Hadi – Chairman of the Sharia Supervision Authority – the Board of Directors decided to distribute a surplus to insurance to the documentation campaign by 5 % in cash for the year 2024 AD. As for the shareholders, the board of directors recommends your esteemed association to agree to distribute cash dividends at 50 % of the paid -up capital, as on 12/31/2024, equivalent to 0.50 riyals for each share.
He added: With our estimation that the year 2025 will constitute a major challenge for Qatari joint stock companies due to competition between companies and other challenges, we in Islamic insurance will strive to successfully overcome this year by achieving the group’s plans and providing innovative products and services that meet the needs of customers.
He said: In conclusion, I would like to raise the highest verses of appreciation and gratitude to the shrine of His Highness the Emir of the country, may God protect and preserve him, and to His Excellency the Prime Minister for their continuous support. I also extend my sincere thanks to the Qatar Central Bank, the Ministry of Trade and Industry, the Qatar Financial Markets Authority, a deposit company and the Group Sharia Supervision Authority, our valued customers and shareholders, and I thank all workers for their efforts and dedication to work. I would also like to extend my sincere thanks to all members of the Board of Directors and all the committees emanating from it for their abundant effort during the year 2024.
