Disclose the Semi-annual financial statement of 2022

Qatar General Insurance & Reinsurance : Disclose the Semi-annual financial statement of 2022

Qatar General Insurance & Reinsurance discloses the interim financial statement for the six-month period ending 30th June , 2022 . The financial statements revealed a Net Profit of QR 43,058,000 in comparison to Net Profit QR 69,473,000 for the same period of the previous year.

The Earnings per share(EPS) amounted to QR 0.049 as of 30th June , 2022 versus Earnings per share(EPS) QR 0.079 for the same period in 2021.

 

QGIRCO FS 30-6-2022 (ENGLISH)

Qatar General Insurance & Reinsurance : Disclose the Semi-annual financial statement of 2022

Qatar General Insurance & Reinsurance discloses the interim financial statement for the six-month period ending 30th June , 2022 . The financial statements revealed a Net Profit of QR 43,058,000 in comparison to Net Profit QR 69,473,000 for the same period of the previous year.

The Earnings per share(EPS) amounted to QR 0.049 as of 30th June , 2022 versus Earnings per share(EPS) QR 0.079 for the same period in 2021.

QGIRCO FS 30-6-2022 (ENGLISH)

To disclose its Semi-Annual financial results

Qatar General Insurance & Reinsurance : To disclose its Semi-Annual financial results on 27/07/2022

Qatar General Insurance & Reinsurance discloses its financial statement for the period ending 30th June 2022 on 27/07/2022.

Qatar General Insurance & Reinsurance Company announces the results of the Second Ordinary General Assembly Meeting for the year 2021

Qatar General Insurance & Reinsurance Company announces the voting results on the agenda items of the second Ordinary General Assembly Meeting for the year 2021 held on the 23rd May 2022, the Shareholders’ General Assembly approved and adopted by majority the following agenda items;

1- Approval of the Board of Director’s Report on the Company’s activities and its financial position for the financial year ended 31st December 2021 and the Company’s future plan.

2- Approval of the External Auditor’s Report for the financial year ended 31st December 2021.

3- Approval of the Company’s Balance Sheet, Profit & Loss accounts for the financial year ended 31st December 2021.

4- Approval of the Board of Director’s proposal not distribute dividends for the financial year ended 31st December 2021.

5- Approval of discharging the members of the Board from liability for the financial year ended 31st December 2021 and approved not distribute remuneration to the board members.

6- Approval of the Company’s Corporate Governance Report for the year 2021.

7- Approval of the appointment of Company’s External Auditors Messrs. KPMG for the financial year 2022 and approve their fees amounted QAR 1,750,000.

The provisions of Qatar Central Bank Law No. (13) of 2012 and Qatar Central Bank Circular No. (1) of 2016 regarding the ownership limits and restrictions in financial institutions under the supervision and regulations of Qatar Central Bank and related instructions have been adhered to in the counting of the voting results for the Second Ordinary General Assembly Meeting for the year 2021.

 

Qatar General Insurance & Reinsurance Company announces the holding of the second Ordinary General Assembly Meeting for the year 2021 on 23 May 2022

Qatar General Insurance and Reinsurance Company held the second Ordinary General Assembly Meeting for the year 2021, the results of voting on the agenda items of the Ordinary General Assembly for the year 2021 will be disclosed upon completion of the counting of all shareholders and in compliance with Qatar Central Bank Law No. (13) of 2012 and Qatar Central Bank Circular No. (1) of 2016, regarding the ownership and voting limits in financial institutions listed on the Stock Exchange.

Qatar General Insurance & Reinsurance Co. amends the date of the Second General Assembly Meeting for the year 2021

Pursuant to Qatar General Insurance & Reinsurance Company disclosure on 15 May 2022 regarding the postponement of its Ordinary General Assembly Meeting for the year 2021, Qatar General Insurance & Reinsurance Company announces the amendment of the date of second General Assembly Meeting for the year 2021 to be held on Monday, 23 May 2022 virtually (through “Zoom” application) at 6:30 PM.

Registration to the Second General Assembly meeting for year 2021 in person (either self or by proxy) at Company’s headquarter in area 4, Musheirib, Street 880, Building No. 23, starting from 05:00 PM till 06:00 PM.

Qatar General Insurance & Reinsurance Co. announces the postponement of its Ordinary General Assembly Meeting for the year 2022 to 19 May 2022

Qatar General Insurance & Reinsurance Company announces the postponement of its Ordinary General Assembly Meeting for the year 2021 due to the lack of quorum. The second meeting will be held virtually (through “Zoom” application) on Thursday 19 May 2022 at 06:30 PM.

Registration to the Second General Assembly meeting for year 2021 in person (either self or by proxy) at Company’s headquarter in area 4, Musheirib, Street 880, Building No. 23, starting from 05:00 PM till 06:00 PM.

AM Best Reaffirms the Credit Rating of Qatar General Insurance & Reinsurance Co. Q.P.S.C.

Qatar General Insurance and Reinsurance Company discloses that “AM Best” reaffirmed the Financial Strength Rating of  B++ (Good) and the Long-Term Issuer Credit Rating of “bbb”. The outlook of these credit ratings is negative. “AM Best” assured the strength of the company’s consolidated balance sheet as very strong, as well as its adequate operating performance, and appropriate enterprise risk management.

Qatar General Insurance & Reinsurance Co. discloses its Financial Statements for the three-month period ended March 31, 2022

Qatar General Insurance & Reinsurance Company disclosed the interim financial statements for the three-month period ended March 31, 2022. The financial statements revealed a net profit of QR 56,770,000 in comparison to net profit of QR 49,406,000 for the same period of the previous year.

The Earnings Per Share (EPS) amounted to QR 0.065 for the three-month period ended March 31, 2022, versus Earnings Per Share (EPS) QR 0.056 of the same period in 2021.

Qatar General Insurance & Reinsurance Co. announces the Ordinary and Extraordinary General Assembly Meetings for the year 2021

 

Qatar General Insurance & Reinsurance Company is pleased to invite its shareholders to attend the company’s Annual Ordinary and Extraordinary General Assembly Meetings for the year 2021, scheduled to be held consecutively virtually (through “Zoom” application) on Sunday   15 May 2022 at 06:30 PM. In case the required quorum is not met, the second meeting will be held on Thursday 19 May 2022 at the same time. In case the required quorum is not met for Extraordinary General Assembly Meeting, the third meeting will be held after one month of the date of second meeting and the date of third meeting will be appointed later.

Registration to the General Assembly and Extraordinary General Assembly meetings for year 2021 in person (either self or by proxy) at Company’s headquarter in area 4, Musheirib, Street 880, Building No. 23, starting from 05:00 PM till 06:00 PM, in case the required quorum is not met, the registration for second meeting will be at same time and place above.

Agenda of the Ordinary General Assembly:

1- Hearing, Discussing and approving the Board of Director’s Report on the Company’s activities and its financial position for the financial year ended 31st December 2021 and the Company’s future plan.

2- Hearing and approving the External Auditor’s Report for the financial year ended  31st December 2021.

3- Discussing and approving the Company’s Balance Sheet, Profit & Loss accounts for the financial year ended 31st December 2021.

4- Approving the Board of Director’s proposal not distribute dividends for the financial year ended 31st December 2021.

5- Discharging the Members of the Board from liability for the financial year ended  31st December 2021 and approving not distribute remuneration to the board members.

6- Discussing and adopting the Company’s Corporate Governance Report for the year 2021.

7- Appointing the Company’s external Auditors for the financial year 2022 and approving their fees.

 

Agenda of the Extraordinary General Assembly:

 

1- To approve amending the Company’s Article of Association, in alignment with Law No. (8) of 2021 amending some provisions of Commercial Companies law promulgated by Law No. (11) of 2015.

2- To authorize the Chairman of the Board of Directors or the Vice Chairman and/or the managing Director to complete the necessary procedures and approvals for the amendments of the Article of Association before all governmental entities.

 

Notes:

  1. Shareholders entitled to attend the meeting are the shareholders listed as per Qatar Central Securities Depository Registrar upon the closure of trading in Qatar Stock Exchange at the same day of the General Assembly Meeting.
  2. Shareholders are requested to bring their ID cards and proxies (or Delegation letters in case of Companies’ Representatives) one hour before the starting time of the meeting to ensure timely registration.
  3. Should the shareholder be not able to attend in person, he may authorize another Company Shareholder to attend, via a proxy (which can be found at the Company’s website www.qgirco.com and/or premises at Al-Asmakh Street).
  4. It is not permissible to grant a proxy to a non-shareholder in the Company, or to a member of the Board of Directors.
  5. The number of the shares held by proxy shall not exceed (5%) of the capital of the Company.
  6. Should the delegating shareholder be a natural person residing outside the state of Qatar the proxy is to be ratified by the Qatari Embassy in that country.
  7. Should the shareholder be a legal Corporate Entity (Company, Authority, Organization), a written, signed and stamped proxy by the shareholder is required, attached with an updated copy of the Company’s Commercial Registration.
  8. Should the delegating shareholder be a Company established outside the state of Qatar the proxy is to be executed by the Company’s representative, ratified by the Qatari Embassy in that country and attached with a copy of the Commercial Registration of the Company, also ratified by the Qatari Embassy in that country.
  9. For the Shareholders viewing, a list including all information stipulated in Article (122) of Law No. (8) of 2021 amending some provisions of Commercial Companies law promulgated by Law No. (11) of 2015, with respect to the in-kind and monetary benefits obtained by the Chairman and members of the Board of Directors, their remunerations, in addition to other statements required pursuant to the Article, shall be available at Company’s Headquarter, one week prior the convention of the Annual General Assembly Meeting.
  10. For the Shareholders viewing a list including all the statements stipulated in Article (26) of the Governance Code for Companies and Legal Entities listed on the Main Market related to the Company’s concluded transactions with related parties, shall be available at Company’s Headquarter, one week before the convention of the Annual General Assembly meeting.
  11. The published invitation announcement in local newspaper, Qatar Stock Exchange website and the Company’s website shall be deemed as the official legal announcement to all shareholders, with no need to send special invitations by courier as per the terms of the Commercial Companies Law no. (11) of year (2015) and its modifications.
  12. For more information in regard to proposed amendments at the Article of Association Please refer the Company’s website qgirco.com.

 

Approval of the Financial Statements is subject to Qatar Central Bank’s approval and other regulatory bodies.

 

 

 

 

Qatar General Insurance & Reinsurance Company discloses the adjustment of the annual financial statements of 2021

 

Pursuant to Qatar General Insurance & Reinsurance Company disclosure of the annual financial statements for the twelve-month period ended 31 December 2021 on 03 March 2022, the Company discloses the adjustment of the annual financial statements for the period ended 31 December 2021 with regard to adjusting the comparison figures to include the Takaful policyholders’ surplus in 2020 profits.

The financial statements reflected a net profit of QR 98,734,000 for the twelve-month period ending 31 December 2021 in comparison to net profit of QR 143,251,000 for the same period of the previous year.

The Earnings Per Share (EPS) amounted to QR 0.113 as of 31 December 2021, versus Earnings Per Share QR 0.164 for the same period of the previous year.

Qatar General Insurance and Reinsurance Company discloses a Lawsuit Judgement

Pursuant to Qatar General Insurance & Reinsurance Company disclosure on the registration of Lawsuit Number 2485 / 2021 by Shareholder Number 817 against the Company on 25 November 2021, the Court of First Instance issued its rejection of the Lawsuit against the Company and obliged the plaintiff to bear the Lawsuit fees. An appeal Number 574 / 2022 (civil and commercial – first Circuit) has been registered by Shareholder number 817 before the Court of Appeal.

 

Qatar General Insurance & Reinsurance Company also discloses the registration of Lawsuit Number 406 / 2022 by Shareholder Number 817 against the Company before the First Instance Civil Court in Qatar.

 

Judgement

Qatar General Insurance & Reinsurance Co. discloses the annual financial statements of 2021

Qatar General Insurance & Reinsurance Company announces the annual financial statements for the twelve-month period ending 31 December 2021, the financial statements revealed a net profit of QR 98,734,000 in comparison to net profit QR 130,852,000 for the same period of the previous year.

The Earnings Per Share (EPS) amounted to QR 0.113 as of 31 December 2021, versus Earnings Per Share QR 0.150 for the same period of the previous year.