QIC posts QR533mn profit
(Gulf Times
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27/01/2010)
Qatar Insurance Company (QIC) has posted a net profit of QR532.8mn in 2009 compared with QR510.8mn in 2008. For the first time, the gross premium earned by Gulf’s largest insurer by market capitalisation, surpassed QR2bn and reached QR2.15bn in 2009.
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AXA secures the 'Insurer of the Year 2009' award
(AME Info
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27/01/2010)
AXA Insurance Gulf, one of the top 5 insurer's in the GCC bagged the prestigious Insurer of the Year award at the Gulf Insurance Awards. The awards were given out yesterday at a ceremony that took place at the Jumeirah Emirates Towers in Dubai. AXA was
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Doha Insurance net gains jump 10% to QR52mn in FY 2009
(Gulf Times
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26/01/2010)
Doha Insurance Company (DIC) has reported a 10% jump in 2009 net profit to QR52.08mn on faster growth in net underwriting earnings. Although net premium grew only 7% to QR89.53mn; its total underwriting revenues surged 13% to QR107.40mn on substantial
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Doha Insurance Profit QR 52.1 Million in 2009
(Press Release
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25/01/2010)
Doha Insurance Company discloses the financial statements for the year ended December 31, 2009.The financials revealed a net profit of QR 52.1 million in 2009 versus QR 47.2 million in 2008. The company’s Earnings per share (EPS) amounted to QR 2.89 in
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S&P revises insurer Al-Ahleia outlook to stable
(Agencies
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23/01/2010)
Standard & Poor''s (S&P) Ratings Services said on Friday it revised its outlook on Kuwait-based composite insurer Al-Ahleia Insurance Co. S.A.K. (Ahleia) to stable from negative. At the same time, the ''BBB+'' long-term counterparty credit and insurer
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Etihad Signs Deal with ADNIC
(Khaleej Times
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20/01/2010)
Etihad Airways has signed a deal with Abu Dhabi National Insurance Company (ADNIC) to provide Etihad’s UAE workforce and their families with medical insurance. The deal provides more than 6,000 Etihad Airways employees and their families living in the
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Etihad Airways signs deal with Abu Dhabi National Insurance
(Business Intelligence
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20/01/2010)
Etihad Airways has signed a deal with Abu Dhabi National Insurance Company (ADNIC) to provide Etihad’s UAE workforce and their families with medical insurance. The deal provides more than 6,000 Etihad Airways employees and their families living in the
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Tawuniya’s Q4 net up 193%
(Arab News
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19/01/2010)
Tawuniya, Saudi Arabia’s leading insurer, posted a 193 percent rise in fourth-quarter net profit, but missed its own forecast after floods that hit Jeddah in December. Tawuniya made SR101.5 million ($27.1 million) in the three months to end-December, up
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National Bonds, AMAN Launch Individual Takaful Cover
(Khaleej Times
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18/01/2010)
National Bonds Corporation PJSC has announced its unique initiative — the “National Bonds Individual Takaful Cover” — a Takaful coverage that will be provided to all existing and new customers under a joint venture with leading Takaful operator, Dubai
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Saudi insurer ACIG eyes capital hike, profit in 2011
(Reuters
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16/01/2010)
Saudi Arabias Allied Cooperative Insurance Group (ACIG) plans to increase its capital by 150 percent in the first-quarter and expects to turn profitable by 2011, its top executive said. I expect (profitability) in 2011, Omar Hafiz, chief executive of
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Malath plans to quadruple branches
(Reuters
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13/01/2010)
Saudi insurer Malath Cooperative Insurance and Reinsurance Co. sees mergers in the sector as new arrivals attempt to capitalize on the Kingdom’s growth market, its chief executive said. Aly Al-Ayed also said Malath plans to quadruple the number of its
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Key Takaful promotions
(Gulf Daily News
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13/01/2010)
Takaful Inter-national company has made two senior promotions. Ali Ebrahim Noor has been appointed a deputy general manager - Family Takaful and Healthcare and Takaful branches and Lamia Ebrahim Hassan is now senior manager - Internal Control and
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ACE Granted Insurance License in Saudi Arabia
(ME Newswire
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12/01/2010)
ACE Arabia Cooperative Insurance Company (NYSE:ACE) has announced that it has been granted a license by the Saudi Arabian Monetary Agency (SAMA) to conduct insurance business in the Kingdom of Saudi Arabia. Syed Umer Ali Shah, Managing Director of ACE
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TIC awarded major insurance tender
(Gulf Daily News
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07/01/2010)
The Bahrain Tender Board has awarded Takaful International Company (TIC) the tender for insurance coverage for several ministries and governmental organisations for three successive years. The tenders provide insurance coverage against various risks
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Saudi Tawuniya Reports 30 Million-Riyal Loss From Jeddah Flood
(Bloomberg
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04/01/2010)
Saudi Arabia’s Company for Cooperative Insurance said it had estimated losses of 30 million riyals ($8 million) from flooding that killed 120 people in Jeddah in November. The losses included damage to factories, warehouses, shopping mall projects and
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Moody’s Assigns “Baa2” Rating to Qatar Islamic Insurance
(Press Release
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04/01/2010)
Qatar Islamic Insurance Company announced that Moody’s Investors Services assigned for the second consecutive year a “Baa2” rating with stable outlook to Qatar Islamic Insurance Company.
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