Sheikh Nasser bin Ali bin Saud Al Thani, Chairman of QGIRCO , the board members and other senior officials at the Annual General Assembly meeting held at Doha Mariott Hotel, yesterday.
Qatar General Insurance and Reinsurance Company (QGIRCO) is planning to further expand its presence in insurance sector with focus on the real estate projects. The Company aims to maintain the its leading position in the insurance and real estate investment industry said, Sheikh Nasser bin Ali bin Saud Al Thani, Chairman of QGIRCO, addressing Annual General Assembly (AGM) meeting yesterday.
“In light of the future vision of the Company’s businesses our main objective is to expand in the insurance areas, focus on the future real estate projects currently executed by the Company, enhance the Company’s capabilities and increase the financial efficiency in compliance with international standards and criteria, and hence maintain the Company’s leading position in the insurance and real estate investment industries in Qatar bearing in mind the strength of the Qatari economy, which is one of the fastest growing economies,” said Al Thani addressing shareholders AGM and the Extraordinary General Assembly (EGM) at Doha Mariott Hotel.
During the meeting, the General Assembly agreed on the distributions of cash dividends of QR1.5 per share which is equivalent to 15 percent of the nominal share value.
Talking about the governance, Sheik Nasser stated : “The sound governance framework adopted by QGIRCO supports our Group in the strategic decisions it makes for long-term growth. The Company carries out its transactions with the related parties through the approved Related Party Translation Policy Manual. This policy is based on the transparency and full disclosure principles with regard to all such transactions and partnerships with the related parties to achieve the best interest for the Company.” In the extra ordinary assembly meeting, it was agreed on amending the article (7) of the statute related to shares and bonds, in line with the board’s decision of Qatar central Bank number (1) for the year 2016. The extraordinary assembly also agreed on the amendment of the statute of the company in compliance of the Qatar Central Bank law and law no (13) for 2012 of the financial institutions and law no (11) for 2015 of the commercial companies.
“Our commitment to developing and mentoring Qatari talent has remained a key objective, with Qatarization forming an integral part of our overall strategy as we progress a greater number of qualified Qatari’s into management level positions across the Group,” said the Chairman.
“For our customers, we invested widely in smart technology that will enable us to provide a much faster and cost efficient services", he added.
