Category: News

Qatar General Insurance & Reinsurance Company discloses its registration of a Lawsuit Number 2 / 2021 “Plenary Commercial Court” against Al Sari Trading Company and its first owner (former Chairman of the Board of Directors of Qatar General Insurance and Reinsurance Company) and the second owner of Al Sari Trading Company before the Court of First Instance circuit number (10) in Al-Dafna.

Qatar General Insurance & Reinsurance Company Q.P.S.C. announces that the Investors Relation Conference Call will be held on Monday 02^nd November 2020 at 02:00 Pm to discuss the financial results for the period ending September 30, 2020.

 

Conference Call  Invitation 

Qatar General Insurance & Reinsurance Company Q.P.S.C. disclosed its reviewed financial statements for the period ended on 30.09.2020. The statement shows that the net profit is QR 74,219 Thousand compared to net profit amounting to QR 8,107 Thousand for the same period of the previous year.

Earnings per Share (EPS) amounted to QR 0.085 for the period ended September 30, 2020 to EPS amounted to QR 0.009 for the same period of the previous year.

Qatar General Insurance & Reinsurance Company Q.P.S.C. announces that its Board of Directors will meet on Tuesday 27 October 2020 to discuss the 3^rd Quarter Financial Statements of the year 2020 for the period ending September 30, 2020.

Qatar General Insurance & Reinsurance Company Q.P.S.C. disclosed its reviewed consolidated financial statements for the period ended on 30.06.2020. The statement shows that the net profit is QR 26,541 thousand compared to net profit amounting to QR 23,036 thousand for the same period of the previous year.

Earnings per Share (EPS) amounted to QR 0.030 for the period ended June 30, 2020 compared to EPS amounted to QR 0.026 for the same period of the previous year.

Qatar General Insurance & Reinsurance Company Q.P.S.C. announces that the Investors Relation Conference Call will be held on Wednesday 29^th July 2020 at 02:00 Pm to discuss the financial results for the period ending June 30, 2020.

 

Qatar General Insurance & Reinsurance Company Q.P.S.C. announces that its Board of Directors will meet on Tuesday 28 July 2020 to discuss the Semi-Annual Financial Statements for the period ending June 30, 2020.

 

Qatar General Insurance & Reinsurance Co. Q.P.S.C announces the postponement of the second meeting of its Ordinary General Assembly according to the instructions of Qatar Central Bank, the date of the new Ordinary General Assembly meeting will be announced at a later time.

Qatar General Insurance and Reinsurance Co. Q.P.S.C. announces its temporary Board of Directors’ approval of the resignation of Mr. Hassan Ahmed Hassan Al Efrangi from his position as a Group Chief Executive Officer and the appointment of Mr. Saeed Abu Gharbieh as the Acting Group CEO starting from today.

Qatar General Insurance & Reinsurance Co. Q.P.S.C announces the postponement of its Ordinary General Assembly Meeting due to the lack of a quorum. The second meeting will be held on Wednesday 01^st July 2020 at Company’s headquarter in area 4, Musheirib, Street 880, Building No.23 at 4:30 PM.

SHAREHOLDERS’ INVITATION TO ATTEND ORDINARY GENERAL ASSEMBLY MEETING

OF QATAR GENERAL INSURANCE AND REINSURANCE Co. Q.P.S.C

ON 28/06/2020

 

Pursuant to Company’s disclosure of postponing the date of annual general assembly on 26 March 2020. Qatar General Insurance & Reinsurance Company Q.P.S.C is pleased to invite its Shareholders to attend the Company’s Annual Ordinary General Assembly Meeting, to be held on Sunday, 28 June 2020 at Company’s headquarter in area 4, Musheirib, Street 880, Building No.23 at 4:30 PM. In case the required quorum was not met, the second meeting will be held on Wednesday, 01 July 2020 at the same venue and time as 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 31^st December 2019 and the Company’s future plan.

2- Hearing and approving the External Auditor’s Report for the financial year ended 31^st December 2019.

3- Discussing and approving the Company’s Balance Sheet, Profit & Loss accounts for the financial year ended 31^st December 2019 and the adjustments for the financial years ended 31^st December 2018 and 31^st December 2017.

4- Approving the Board of Director’s proposal not distribute dividends for the financial year ended 31^st December 2019.

5- Discussing and adopting the Company’s Corporate Governance Report for the year 2019.

6- Appointing the Company’s External Auditors for the financial year 2020 and approving their fees.

 

Hamad Mohammad Al-Mana

Chairman of the Temporary Board

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 Meetings.
2. The published invitation announcement in local newspapers, 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).
3. 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.
4. 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 and/or premises at Al-Asmakh Street).
5. It is not permissible to grant a proxy to a non-shareholder in the Company, or a member of the Board of Directors.
6. The number of the shares held by the attorney in this capacity shall not exceed (5%) of the capital of the Company.
7. 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.
8. 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.
9. 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.

form

Qatar General Insurance and Reinsurance Company (Q.P.S.C.) discloses the judgement of the Cassation Court, civil cassation appeal No. (107/2020 – 2nd Circuit), by rejecting the appeal against the ruling of the Court of Appeal (civil and commercial appeal) in upholding the judgement of the First Instance Plenary Court (Ninth Circuit – Commercial and Plenary) in the State Qatar, which annulled a decision taken at the Company’s General Assembly meeting on 12/03/2018, related to granting a percentage of 0.2% of the 20% of the shares owned by Qatar General Insurance and Reinsurance Co. in the capital of Trust Investment Holding Algeria, to Ms. Fatiha Khellal – CEO of the latter, and this is following of a commercial civil action filed by one of the Company’s shareholders against the Company. The cassation verdict is now final and unchallengeable

Qatar General Insurance & Reinsurance Company Q.P.S.C. disclosed the interim financial statements for the three-month period ended March 31, 2020. The financial statements revealed a net profit of QR 11,230 thousand in comparison to a net profit of QR 20,430 thousand for the same period of the previous year.

The Earnings per Share (EPS) amounted to QR 0.013 for the three-month period ended March 31, 2020, versus EPS per share QR 0.023 of the same period in 2019.

 

Qatar General Insurance & Reinsurance Company Q.P.S.C. announces that the Investors Relation Conference Call will be held on Tuesday 05^th May 2020 at 12:00 Pm to discuss the company’s financial and operational performance.

Qatar General Insurance & Reinsurance Company Q.P.S.C. discloses that based on the resolution of the Governor of Qatar Central Bank No. (5) for year 2020, the following has been decided:

 

First: Ending the tenure of the current Board of Directors of Qatar General Insurance & Reinsurance Company Q.P.S.C.,

 

Second: The appointment of a temporary Board of Directors for Qatar General Insurance & Reinsurance Company from Company’ shareholders for a tenure of one year, renewable, as follows:

 

1. Hamad Mohammad Hamad Al-Mana                                                     Chairman of the Board
2. Sheikh Khalifa Bin Jassim Bin Mohammad Al Thani                           Deputy Chairman
3. Faleh Al – Nasr                                                                                         Board Member
4. Ali Saleh Al Fadala                                                                                  Board Member
5. Nawaf Ibrahim Al-Mana                                                                         Board Member

 

Third: The temporary Board of Directors to carry out its responsibilities per the company bylaws and the other duties specified in the resolution No. (5) for year 2020.

 

Fourth: The general assembly meeting will be postponed until the temporary Board of Directors and the relevant authorities decide on a new date.

 

Fifth: All the concerned bodies must implement the said resolution as of date of issuance and all contrary decisions are cancelled.

Qatar General Insurance & Reinsurance Company Q.P.S.C. announces that its Board of Directors will meet on Wednesday 29 April 2020 at 8:30 PM to discuss the first quarter financial statements for the year 2020.

In view of the current circumstances and in the interest and safety of the shareholders and all attendees, Qatar General Insurance and Reinsurance Company Q.P.S.C. announces the postponement date of the General Assembly Meeting, which was scheduled to take place on March 29, 2020. The date of the new Annual General Assembly will be announced at a later tim

Qatar General Insurance and Reinsurance Company Q.P.S.C. announces that “AM Best” issued its revised ratings results to the Financial Strength Rating (FSR) to B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” while adjusted the outlook of FSR to become stable from negative and keeping the outlook for the (Long-Term ICR) unchanged. “AM Best” assured the strength of the company’s balance sheet, as well as its strong operating performance, and appropriate enterprise risk management

SHAREHOLDERS’ INVITATION TO ATTEND ORDINARY GENERAL ASSEMBLY MEETING

OF QATAR GENERAL INSURANCE AND REINSURANCE Co. Q.P.S.C

ON 29/03/2020

The Board of Directors of Qatar General Insurance & Reinsurance Company Q.P.S.C is pleased to invite its Shareholders to attend the Company’s Annual Ordinary General Assembly Meeting, to be held on Sunday, 29^th March 2020 at Al-Dasha Ballroom at Sharq Village & Spa (Doha – Ras Abu Abboud) at 5:30PM. In case the required quorum is not met, the second meeting will be held on Wednesday, 8^st April 2020 at 5:30PM at the same venue.

 

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 31^st December 2019 and the Company’s future plan.

2- Hearing and approving the External Auditor’s Report for the financial year ended 31^st December 2019.

3- Discussing and approving the Company’s Balance Sheet, Profit & Loss accounts for the financial year ended 31^st December 2019 and the adjustments for the financial years ended 31^st December 2018 and 31^st December 2017.

4- Approving the Board of Director’s proposal not distribute dividends for the financial year ended 31^st December 2019.

5- Discharging the Chairman and members of the Board from liability for the financial year ended 31^st December 2019 and approving not distribute remuneration to the board members.

6- Discussing and adopting the Company’s Corporate Governance Report for the year 2019.

7- Appointing the Company’s External Auditors for the financial year 2020 and approving their fees.

8- Board Members’ Election for the period (2020 – 2022).

 

Nasser Bin Ali Bin Saud Al Thani

Chairman of the Board and Managing Director

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 Meetings.
2. For the Shareholders viewing, a list including all information stipulated in Article (122) of Commercial Companies law no. (11) Of year (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 all the other statements required pursuant to this Article, shall be available at the Secretariat of the Board of Directors located at the Company’s Headquarter, one week before the convention of the Annual General Assembly.
3. 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 the related parties, shall be available at the Secretariat of the Board of Directors located at the Company’s Headquarter, one week before the convention of the Annual General Assembly.
4. 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.
5. Should the shareholder be not able to attend in person, he may authorize another Company Shareholder to attend, via a proxy (which can be obtained at the Company’s premises at Al-Asmakh Street), after evidencing his capacity as a Shareholder.
6. It is not permissible to grant a proxy to a non-shareholder in the Company, or to a member of the Board of Directors.
7. The number of the shares held by proxy shall not exceed (5%) of the capital of the Company.
8. 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.
9. 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.
10. 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.

• The Approval of the Financial Statements is subject to Qatar Central Bank’s approval and other related Regulating Authorities.

 

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Board of Director’s report & invitation

Financial Statements 31-12-2019

corporate governance report 31-12-2019