Qatar Islamic Insurance Group AGM proposes cash dividend of 50% of paid-up capital

28/03/2025 07:29 AST

Qatar Islamic Insurance Group convened its Annual General Assembly Meeting for the year 2024, yesterday. The Board proposed to the assembly distribution of cash dividends of 50% of the paid-up capital, which equals QR0.50 per share for the year 2024.

Addressing the Annual General Assembly, Jamal Abdulla Ahmad Al Jamal, Chairman of the Board said, "It is with great honour that I welcome you, on behalf of the Board of Directors, to the Annual General Assembly of Qatar Islamic Insurance Group.

The Group has been able, thanks to God Almighty, register good results in 2024. It is gratifying to announce that the Group succeeded in exceeding its business and operational goals and targets in 2024 by generating gross premium of QR551,135,023, shareholders' profit reached QR143,696,714. The shareholders' account has achieved (EPS) of 0.96 for 2024 comparing to 0.95 for the year 2023 with growth ration 1%, he added.

As for the future, the Board will pursue, with unwavering determination, the Group's strategic plans for the Years 2025 - 2027 to ensure its continued growth and prosperity.

Jamal Abdulla Ahmad Al Jamal further noted "Our approved three year strategic plan and goals will permit us to increase our share of insurance business in Qatar, maximize our insurance underwriting capacities, retention and profit efficiency, re-engineer our motor insurance operations, maximize the efficiency of our investment assets diversification and profitability, rise the Qatarization percentage."

Based on the aforementioned results, the Board of Directors, in co-ordination with the Sharia' Supervisory Board, has decided to reimburse policyholders with cash surplus equaling 5% of the premiums written in 2023 .

"As for the shareholders, the Board proposes to the Assembly distribution of cash dividends of 50% of the paid-up capital, which equals QR0.50 per share for the year 2024."

"Although we recognize that 2025 will pose a real challenge to the Qatari Private Sector and, especially, competition between insurance companies and other challenges, however, we will strive to exceed this year, products during the Group's offerings and display and that meet the needs of customers," he added.

"We express our profound gratitude and deepest respects to H H the Amir and H E the Prime Minister for their unwavering support and endless encouragement. We give our sincere thanks to Qatar Central Bank, the Ministry Commerce and Industry, Qatar Financial Markets Authority, Edaa Company and our Sharia Supervisory Board, policyholders and shareholders."

"Last, but not least, we convey our genuine appreciation to the General Management and staff of the Group for their wholehearted devotion and dedication. I would also like to extend my sincere thanks to all Board Members, directors and all its committees for their effort during 2024," Chairman of the Board said.

The Peninsula