QNB Financial Services and Doha Insurance Group (DOHI) are pleased to invite you to participate in DOHI’s Q2 2021 Financial Results Conference Call.
DOHI Speakers: Osama Rayyan – Chief Investment Officer
Ghaith Jardaneh – Chief Financial Officer
QNB FS Chairperson: Shahan Keushgerian – Senior Research Analyst
Date: Monday, August 9th, 2021
Time: 14:00 Doha, 12:00 UK, 07:00 NY
Dial-In #s: Qatar Toll-Free: 00 800 100 443
UK & International: + 44 330 336 9126
USA Dial-in: +1 929-477-0324
Please join the event, conference 5-10 minutes prior to the start time. You will be asked to provide the confirmation code, speaker name, or the title of your conference.
Passcode: 8053701
Replay Service: Replay will be available for two days with the following dial-in details: UK & Intl. +44 207 660 0134 / USA +1 719 457 0820
Replay Passcode 8053701
Contact: For further details about the call, please contact QNB Financial Services at [email protected]
QNB Financial Services and Doha Insurance Group (DOHI) are pleased to invite you to participate in DOHI’s Q4 2020 Financial Results Conference Call.
DOHI Speakers: Osama Rayyan – Chief Investment Officer
Ghaith Jardaneh – Chief Financial Officer
QNB FS Chairperson: Shahan Keushgerian – Senior Research Analyst
Date: Thursday, February 25th 2021
Time: 12:00 Doha, 09:00 UK, 04:00 NY
Dial-In #s: Qatar Toll-Free: 00 800 100 459
UK & International: + 44 330 336 9126
USA Dial-in: +1 929-477-0324
Please join the event conference 5-10 minutes prior to the start time. You will be asked to provide the confirmation code, speaker name or the title of your conference.
Passcode: 9823923
Replay Service: Replay will be available for two days with the following dial in details: UK & Intl. +44 207 660 0134 / USA +1 719 457 0820
Replay Passcode 9823923
Contact: For further details about the call, please contact QNB Financial Services at [email protected]
QNB Financial Services and Doha Insurance Group (DOHI) are pleased to invite you to participate in DOHI’s Q3 2020 Financial Results Conference Call.
DOHI Speakers: Osama Rayyan – Chief Investment Officer
Ghaith Jardaneh – Chief Financial Officer
QNB FS Chairperson: Shahan Keushgerian – Sr. Research Analyst
Date: Monday, November 02nd 2020
Time: 13:00 Doha, 10:00 UK, 05:00 NY
Dial-In #s: Qatar Toll-Free: 00 800 100 459
UK & International: + 44 330 336 9411
USA Dial-in: +1 929-477-0448
This is an automated passcode entry conference, please input the conference passcode followed by the hash / pound sign when you are prompted.
Passcode: 9179229
Replay Service: Replay will be available for two days with the following dial in details: UK & Intl. +44 207 660 0134 / USA +1 719 457 0820
Replay Passcode 9179229
Contact: For further details about the call, please contact QNB Financial Services at [email protected]
QNB Financial Services and Doha Insurance Group (DOHI) are pleased to invite you to participate in DOHI’s Q1 2020 Financial Results Conference Call.
DOHI Speakers: Osama Rayyan – Chief Investment Officer
Ghaith Jardaneh – Chief Financial Officer
QNB FS Chairperson: Shahan Keushgerian – Sr. Research Analyst
Date: Thursday, April 30th, 2020
Time: 12:00 Doha, 10:00 UK, 05:00 NY
Dial-In #s: Qatar Toll-Free: 00 800 100 461
UK & International: + 44 330 336 9401
USA Dial-in: +1 929 477 0630
This is an automated passcode entry conference, please input the conference passcode followed by the hash/pound sign when you are prompted.
Passcode: 122676
Replay Service: Replay will be available for two days with the following dial-in details: UK & Intl. +44 207 660 0134 / USA +1 719 457 0820
Replay Passcode 7934922
Contact: For further details about the call, please contact QNB Financial Services at [email protected]
QNB Financial Services and Doha Insurance Group (DOHI) are pleased to invite you to participate in DOHI’s Q4 2019 Financial Results Conference Call.
DOHI Speakers: Osama Rayyan – Chief Investment Officer
Ghaith Jardaneh – Chief Financial Officer
QNB FS Chairperson: Shahan Keushgerian – Sr. Research Analyst
Date: Monday, February 24th 2020
Time: 13:30 Doha, 10:30 UK, 05:30 NY
Dial-In #s: Qatar Toll-Free: 00 800 100 459
UK & International: + 44 330 336 9411
USA Dial-in: +1 929 477 0324
Please join the event conference 5-10 minutes prior to the start time. You will be asked to provide the confirmation code, speaker name or the title of your conference.
Conference ID: 3219892
Replay Service: Replay will be available for two days with the following dial in details: UK & Intl. +44 207 660 0134 / USA +1 719 457 0820
Conference ID 3219892
Contact: For further details about the call, please contact QNB Financial Services at [email protected]
QNB Financial Services and Doha Insurance Group (DOHI) are pleased to invite you to participate in DOHI’s Q3 & 9M 2019 Financial Results Conference Call.
DOHI Speakers: Osama Rayyan – Chief Investment Officer
Ghaith Jardaneh – Chief Financial Officer
QNB FS Chairperson: Shahan Keushgerian – Sr. Research Analyst
Date: Monday, November 4th 2019
Time: 13:00 Doha, 10:00 UK, 05:00 EST
Dial-In #s: Qatar Toll-Free: 00 800 100 459
UK & International: + 44 330 336 9411
USA Dial-in: +1 929 477 0324
Please join the event conference 5-10 minutes prior to the start time. You will be asked to provide the confirmation code, speaker name or the title of your conference.
Conference ID: 2628792
Replay Service: Replay will be available from November 4th starting at 16:00 Doha Time to November 6th at 16:00 Doha Time with the following dial in details:
UK & Intl. +44 (0) 207 660 0134 / USA +1 719 457 0820 /
Conference ID 2628792
Contact: For further details about the call, please contact QNB Financial Services at [email protected]
Doha Insurance Group announces its intent to disclose the 3rd quarter financial statements for the period ending September 30 2019, on 29/10/2019
Doha Insurance Group announces its intent to disclose the financial reports for the period ending June 30, 2019 on 31 July 2019.
Doha Insurance disclosed its financial statements for the period ending on the 30th of June, 2019. Net profit reached QR 35.4 million compared to a net profit of QR 34.9 million for the same period of the previous year
Earnings per share amounted to QR 0.07 for the period ending on the 30th of June, 2019 compared to QR 0.07 for the same period of the previous year
Qatar Stock Exchange announces that the split of shares for Doha Insurance group (DOHI) has been executed, effective Monday, 01 July 2019.
Shares split results are as follows:
DOHI
New Number of Shares: 500,000,000
Adjusted Closing Price: 1.22
Price limit up 1.34
Price limit down: 1.10
Doha Insurance Group announces that Standard and Poor’s Rating Services has announced that Doha Insurance Rating is affirmed at " A- " the outlook remains stable .
Doha Insurance disclosed its financial statements for the period ending on the 31st of March, 2019. Net profit reached QR 17.7 million compared to net profit of QR 28 million for the same period of the previous year.
Earnings per share amounted to QR 0.35 for the period ending on the 31st of March, 2019 compared to QR 0.56 for the same period of the previous year.
DOHA INSURANCE TO DISCLOSE ITS 2019 FIRST QUARTER FINANCIAL RESULTS ON 29 APRIL 2019
Doha Insurance Group announces the results of the AGM and EGM was held on Monday, March 25, 2019, As follows:
FIRST: RESULTS OF THE ORDINARY GENERAL ASSEMBLY MEETING
1- Hearing the report of the Board of Directors on the Company’s activities, financial position during the financial year ended 31st December 2018 and the business plan for 2019.
2- Approving the report of the External Auditors on the Company’s balance sheet and on the accounts for the financial year ended 31st December 2018.
3- Discussing and approving the balance sheet and profit and loss account for the financial year ended 31st December 2018.
4- Approving the proposal of the Board of Directors to distribute to the shareholders a cash dividend of 8 % from the share par value i.e. QR. 0.80 (Eighty Dirham) for each share.
5- Releasing the members of the Board of Directors from liability and approving their remunerations for the financial year ended 31st December 2018 (QR.1, 390,000).
6-Discussing and approving the Group’s Governance Report for 2018.
7-Appointing an External Auditor for the Group for the financial year 2019 and fixing their fees (QR.565, 000).
SECOND: RESULTS OF THE EXTRA ORDINARY GENERAL ASSEMBLY MEETING
1- Amendment to article (7) of DIG’s Articles of Association, which allows non Qatari investors to invest in DIG’s common shares, thereby applying law #9 of 2014 which amends parts of law #13 of 2000 concerning non Qatari investors’ investment in Qatari firms, and as follows: -
“Non Qatari investors can only hold up to 49% of DIG’s shares listed on the Qatari Stock Exchange”.
2- Amendment to article (2) of DIG’s Articles of Association by adding new insurance product “Extended warranty” against Vehicle, electrical appliance and equipment breakdown “ Doha Warranties”.
3-Approving an amendment to article (5) of DIG’s Articles of Association with respect to the Group’s shares and the par value of each share, to comply with the decision of Qatar Financial Markets Authority board of directors issued on December 16,2018, specific to amending the par value of outstanding shares for listed companies to read as follows:
“The Group’s total shares shall be 500,000,000.00, with a per value of 1 Qatari Riyal per share, paid in full”.
4-Approving the amendment of article (22) clause ”3” of the articles of association concerning Board member conditions to become a board member must own a minimum of 500,000 shares.
5-Authorize the Chairman or his deputy individually to sign all the necessary documents to amend the said article of association.
The Board of Directors of Doha Insurance Group is honored to invite the esteemed shareholders to attend the Ordinary and Extra Ordinary General Assembly Meeting of the Shareholders, which will be held on March,25th 2019 at la Cigale Hotel.
Agenda of the Ordinary General Assembly Meeting
1)Hearing the report of the Board of Directors on the Company’s activities, financial position during the financial year ended 31st December 2018 and the business plan for 2019.
2)Hearing and approving the report of the External Auditors on the Company’s balance sheet and on the accounts for the financial year ended 31st December 2018.
3)Discussing and approving the balance sheet and profit and loss account for the financial year ended 31st December 2018.
4)Approving the proposal of the Board of Directors to distribute to the shareholders a cash dividend of 8 % from the share par value i.e. QR. 0.80 (Eighty Dirham) for each share.
5)Releasing the members of the Board of Directors from liability and approving their remunerations for the financial year ended 31st December 2018.
6)Discussing and approving the Group’s Governance Report for 2018.
7)Appointing an External Auditor for the Group for the financial year 2019 and fixing their fees.
Agenda of the Extra Ordinary General Assembly Meeting
1) Amendment to article (7) of DIG’s Articles of Association, which allows non Qatari investors to invest in DIG’s common shares, thereby applying law #9 of 2014 which amends parts of
law #13 of 2000 concerning non Qatari investors’ investment in Qatari firms, and as follows:-
“Non Qatari investors can only hold up to 49% of DIG’s shares listed on the Qatari Stock Exchange”.
2) Amendment to article (2) of DIG’s Articles of Association by adding new insurance product “Extended warranty” against Vehicle, electrical appliance and equipment breakdown “ Doha Warranties”.
3) Approving an amendment to article (5) of DIG’s Articles of Association with respect to the Group’s shares and the par value of each share, to comply with the decision of Qatar Financial Markets Authority board of directors issued on December 16,2018, specific to amending the par value of outstanding shares for listed companies to read as follows:
“The Group’s total shares shall be 500,000,000.00, with a per value of 1 Qatari Riyal per share, paid in full”.
4) Approving the amendment of article (22) clause ”3” of the articles of association concerning Board member conditions to become a board member must own a minimum of 500,000 shares.
5) Authorize the Chairman or his deputy individually to sign all the necessary documents to amend the said article of association.
Doha Insurance disclosed its financial statements for the year ending on the 31st of December, 2018. Net profit reached QR 60 million compared to net profit of QR 42.2 million for the same period of the previous year.
Earnings per share amounted to QR 1.21 for the year ending on the 31st of December, 2018 compared to QR 0.84 for the same period of the previous year.
The Board of Directors has also decided to submit a proposal to the General Assembly in its upcoming meeting , to ratify a proposal for distribution of cash dividends equal to 8 % of the share par value i.e. QR. 0.80 (Eighty Dirham) for each share .
Doha Insurance Group announces that its board of directors will meet on 13/02/ 2019 to Discuss and adopt financial statements of the company for the period ended 31/12/2018.
Doha Insurance Group announces that annual Ordinary Assembly Meeting will be held Monday on 25/3/2019. In case the quorum is not met, an alternate meeting will be held on 2/4/2019
Doha Insurance Group has sold one of its property in Doha, for an amount of QR 38 Million. (Qatari Riyals Thirty Eight Million Only).
Please note the book value of the property is QR 4,121,700/-
(Qatari Riyals Four Million One Hundred Twenty One Thousand and Seven Hundred Only).
Our profit from the sale stands at QR 33,878,300. ( Qatari Riyals Thirty Three Million Eight Hundred Seventy Eight and Three Hundred Only.)
Doha Insurance disclosed its quarterly financial statements for the period ending on the 30th of September, 2018. Net profit reached QR 35.4 million compared to net profit of QR 34.7 million for the same period of the previous year.
Earnings per share amounted to QR 0.71 for the period ending on the 30th of September, 2018 compared to QR 0.69 for the same period of the previous year.
Doha Insurance Group has announced that A.M.Best Rating Agency has affirmed on 11th October, 2018 the financial strength rating of Doha Insurance at “A-” . the outlook remains stable.
Doha Insurance Group announces its intent to disclose the 3rd quarter financial statements for the period ending September 30 2018 on Monday 29 October 2018.
Doha Insurance Group has announced that Standard and Poor’s RatingServices Rating is affirmed at " A- " the outlook remains stable .
Doha Insurance Group has disclosed the relation with the Gulf Warranties Company – Qatar, as following: -
I. Nature of the Business Relationship:
- Gulf Warranties, LLC is a UAE-based company headquartered in Dubai, wholly owned by Arab Insurance Group (ARIG). ARIG is a Bahraini public shareholding company listed on the Bahrain and UAE stock exchanges that provides reinsurance and other insurance services. Gulf Warranties operates branches outside of the UAE spread across the GCC, which include Kuwait, Oman, Bahrain, and Qatar, in addition to Jordan.
- Doha Insurance Group obtained approval from the Qatar Central Bank, allowing Gulf Warranties to operate in the Qatari market under the umbrella of Doha Insurance Group, and to subsequently provide insurance services covering car breakdowns, roadside assistance, and replacement vehicles. Doha Insurance Group retains 2.5% of the total annual insurance premiums and is paid a 5% commission for all new business.
- All employees at the Qatar branch of Gulf Warranties are sponsored by Doha Insurance Group and are contracted in accordance with prior arrangements made with Gulf Warranties Home Office in Dubai. This is done to facilitate residency in Qatar, and to enable Qatar branch employees to perform their duties in the State of Qatar. Responsible for them financially and administratively, including the payment of their monthly salaries or any other financial dues, Gulf Warranties is ultimately responsible for their staff in Qatar. Accordingly, Gulf Warranties Home Office directs the disbursement of monthly salaries to its employees in Qatar, in addition to any other financial dues.
II. Recent developments:
- On 13/8/2018 Doha Insurance Group received an email from the Gulf Warranties Home Office in Dubai stating that it had dispatched a team to the Qatar branch to inspect the branch's business operations in Qatar. After the initial audit, Gulf Warranties Home Office discovered various administrative and financial irregularities at their Qatar branch. The irregularities discovered included insurance policies issued at prices contrary to pricing tables approved by Gulf Warranties, premiums collected but not reported to their Home Office in Dubai, and other violations that amount to approximately 3.7 million QAR in discrepancies.
- Gulf Warranties Home Office in Dubai advised us that they are in the process of appointing Deloitte as an independent auditor to perform a Forensic Audit on the Gulf Warranties Qatar branch's operations and accounts, to identify the financial and administrative irregularities, and to isolate premiums that have not been reported to Gulf Warranties home office. They also disclosed that they may take legal action against the former Director of the branch (currently suspended) and other associated staff if necessary to recover the amounts to be identified.
- On 16/08/2018 Arab Insurance Group (ARIG) announced in its semi-annual financial results ending June 30, 2018, that it had incurred a net loss of approximately 22 million US Dollars, mostly to be allocated toward 21 million US Dollars in provisions taken to address potential losses that may arise from the alleged fraud committed by Gulf Warranties staff.
We would like to note that the disclosure made by Gulf Warranties does not specify which branches of the company were affected by the alleged fraud, nor does it indicate whether the Qatar branch is among those affected, or what is the exposure to each branch.
III. Impact on Doha Insurance Group's Financial Statements: In light of the current information and developments at the Gulf Warranties branch in Qatar, we believe that there is no impact on the financial statements of Doha Insurance Group and therefore on the current or future share price based on the following:
- The annual premiums earned by the Gulf Warranties branch in Qatar in 2017 was close to 6 million QAR, while the annual premiums earned BY Doha Insurance Group in 2017 exceeded 580 million QAR.
- Doha Insurance Group only retains 2.5% of the total premiums earned by the Gulf Warranties branch in Qatar. 97.5% of the total premiums are ceded to Arab Insurance Group (ARIG), and Gulf Warranties is a wholly owned subsidiary of ARIG.
- The allegations of fraud or other financial and administrative violations is attributed to Gulf Warranties and Arab Insurance Group (ARIG) as per their disclosures in relation their staff. De facto recognition and acceptance of joint responsibility between Gulf Warranties and its parent company ARIG is evident and reinforced by their recent disclosure. This necessitates legal coordination with the two companies to address any claims or requests for compensation by those affected, either in the present or in the future.
We would like to disclose that a meeting between Doha Insurance Group, Arab Insurance Group (ARIG), Gulf Warranties Home Office, and all regional branches of Gulf Warranties will be held as soon as possible to consider ways to resolve outstanding matters and potential problems. We intend to explore the future of the relationship between concerned parties, and to address Gulf Warranties’ business continuity in Qatar, mainly whether they intend to continue or to stop their operations in part or in full. We intend to address the responsibilities of each party for the questionable transactions that took place, and we will insist that Gulf Warranties and ARIG appoint a new director to head the Qatar branch.
We will provide you with the results of the audit and any findings once they are made available to us, which will be conducted by Deloitte and commissioned by the Gulf Warranties. The results of this audit will determine any future course of action, including reporting to official and regulatory authorities on future developments.
Finally, we would like to inform you that Doha Insurance Group has taken necessary precautionary measures at present to ensure the smooth functioning of the Gulf Warranties Branch in Qatar, including the active supervision and direct control over its business operations.
Doha Insurance disclosed its reviewed financial statements for the period ending 30th of June, 2018. Net profit reached QR 34.9 million compared to net profit of QR 33.9 million for the same period of the previous year.
Earnings per share amounted to QR 0.70 for the period ending 30th of June, 2018 compared to QR 0.68 for the same period of the previous year.
Doha Insurance disclosed its financial statements for the period ending 31st of March, 2018. Net profit reached QR 28 million compared to net profit of QR 27.5 million for the same period of the previous year.
Earnings per share amounted to QR 0.56 for the period ending 31st of March, 2018 compared to QR 0.55 for the same period of the previous year.
Doha Insurance Group, on Monday, revealed that its ordinary and extraordinary general assembly meetings approved distributing cash dividends of 7.5% from the share par value, with a per-share dividend of QAR 0.75 for 2017, according to the company’s statement to the Qatar Stock Exchange (QSE).
DIG’s profits slid 41.7% to QAR 42.16 million during the full-year 2017 from QAR 72.25 million a year earlier.
Doha Insurance Group (DIG) revealed plans to open representative offices in London and Beirut to underwrite reinsurance business including energy risks, life, and medical insurance, according to company chairman Sheikh Nawaf bin Nasser bin Khaled al-Thani,
At the recent La Cigale Doha annual general meeting, Khaled announced restructuring and expansion plans as the firm prepares to take on a larger share of the takaful insurance market and expand internationally.
He told shareholders the group had obtained Qatar Central Bank (QCB) approval to transform its Islamic insurance branch – Doha Takaful – into a shareholding company of limited liability.
The DIG plans to expand Doha Takaful into a separate, fully-fledged, but 100% DIG owned insurance company; “it will be separate but within two years we hope it will have all the tools to perform exceptionally well,” DIG Chief Executive Officer Bassam Hussein explained.
In addition, Khaled said the group would further support and develop investment into DIG-owned IT company in Jordan, which makes InsurTech and software to match the needs of the Group.
Khaled added that the group’s management will develop its investment portfolio and diversify its assets, including increasing the share of bonds and sukuks, taking into account the expected increase in interest rates during the next year; “we will also consider the purchase of new income-generating properties,” Khaled said.
Agenda of the Ordinary General Assembly Meeting
1) Hearing the report of the Board of Directors on the Company’s activities, financial position during the financial year ended 31st December 2017 and the business plan for 2018.
2) Hearing and approving the report of the Sharia’a Supervisory Board on the financial statements for the financial year ended 31st December 2017 of the Group’s Islamic branch “Doha Takaful”.
3) Hearing and approving the report of the External Auditors on the Company’s balance sheet and on the accounts for the financial year ended 31st December 2017.
4) Discussing and approving the balance sheet and profit and loss account for the financial year ended 31st December 2017.
5) Approving the proposal of the Board of Directors to distribute to the shareholders a cash dividend of 7.5 % from the share par value i.e. QR. 0.75 (Seventy-Five Dirham) for each share.
6) Releasing the members of the Board of Directors from liability and approving their remunerations for the financial year ended 31st December 2017.
7) Discussing and approving the Group’s Governance Report for 2017.
8) Reviewing and approving Remuneration policy.
9) Discussing and approving the Group’s policy nomination and electing of the Board of Directors.
10) Appointing the Sharia’a Supervisory headed by Dr. Ali -Qaradaghi along with two members for three years To supervise, control and enforce the work of “ Doha Takaful” Totally owned by Doha Insurance Group.
11) Appointing an External Auditor for the Group for the financial year 2017 and fixing their fees.
12) Approving the election via acclamation of the board Membership for three years 2018-2020.
Agenda of the Extra Ordinary General Assembly Meeting
1) Approving the amendment of article No. (2) of the articles of association of the Group’s by adding the Reinsurance Activity “to be read as follows: -
The Group's objectives are to add in insurance and re-insurance business of all types traded and authorized, and to invest capital and property.
2) Approving the amendment of the Group's Articles of Association in accordance with the corporate governance code for companies and the legal entities listed in the main market issued by the Board of Directors of Qatar Financial Markets Authority (resolution No 5/2016).
3) Authorize the Chairman or his deputy individually to sign all the necessary documents to amend the said article of association.
Doha Insurance disclosed its financial statements for the period ended on December 31,2017. The statements show the net profit reached QR 42.2 million compared to net profit amounting to QR 72.2 million for the same period of the previous year.
Earnings per share amounted to QR 0.84 for the Year ended December 31, 2017 compared to QR 1.44 for the same period of the previous year.
The Board of Directors has also decided to submit a proposal to the General Assembly Annual Meeting , to ratify a proposal for distribution of cash dividends equal to 7.5% of the share par value i.e. QR. 0.75 (Seventy Five Dirham) per share .
Doha Insurance group announces that Qatar Central Bank has given approval to transform our branch “ Doha Takaful “ from a branch to a limited liability company, as interim period, to eventually transition to a public shareholding company in the future .
Doha Insurance announces that the date of its Board of Directors meeting originally scheduled for Sunday, 4 February 2018 has been changed to Monday, 5 February 2018. To discuss and approve the audited financial statements for the period ending December 31, 2017.
أعلنت مجموعة الدوحة للتامين أن مجلس إدارتها سيعقد اجتماعه يوم الأحــد الموافق 04/02/2018
Doha Insurance Group holds its general assembly meeting due on Sunday 18/03/2018.
The second meeting will be held on Sunday 25/03/2018
As part of its Expansion Strategy, Doha Insurance Group Launches its New Brand Identity to reflect its Pioneering Spirit, in its Quest to Offer the Best Products and Innovative Insurance Solutions, that put the Customer at the Center of its Interests in Qatar and the Region.
Doha, Qatar – November 29, 2017 - Doha Insurance Group, the leading personal and corporate insurer, announced the launch of its new brand identity, as part of its ongoing expansion strategy to strengthen its position as one of the most innovative, customer focused and pioneering insurance companies in the region and beyond.
The launch of Doha Insurance Group’s new brand identity was marked by a celebratory event hosted on Wednesday, November 29th, 2017 at the company’s head office, and was attended by all the staff based in Qatar with Executive and Senior Management team members including Chairman of the Board, SHK. Nawaf Nasser Bin Khaled Al-Thani, and all other esteemed board members.
The new brand indicates a new identity that balances the heritage and roots of the company with the requirements of a regional and future-proof brand, in order to meet the growing and ever-changing insurance needs in the region, and to strengthen its position in-line with its regional and international expansion plans.
The group’s new identity draws its inspiration from its Arabic Qatari roots. Grounded with proud Arabian roots and heritage, Qatar is a nation proud of its people, and all those who reside on it from all over the globe. Qatar beats with a passionate culmination of history and heritage remaining current with all that is modern and contemporary.
To reflect this, the new group’s logo icon merges the “dal” in Arabic and the letter D in English, forming a circle of protection, and representing the essence of what Doha Insurance stands for. This new embodiment also forms the shape of a closed triangle that depicts a fast forward moving motion, true to the pioneering spirit of the group.
Established in 1999, Doha Insurance Group is a national shareholding company, engaged in the business of insurance and re-insurance. The company was formed in response to the need for growth in the insurance segment, warranted by unprecedented accelerated economic expansion in Qatar as well as the enactment of laws encouraging various investments.
SHK. Nawaf Nasser Bin Khaled Al-Thani, Chairman of the Board of Directors of Doha Insurance Group stated: “Doha Insurance Group has made great progress on its way to become an authority in the insurance segment in the region. Today’s announcement of the future brand Doha Insurance Group ‘DIG’, from the original Doha Insurance Company ‘DIC’, marks a significant milestone in our history, and underscores the end phase of the restructuring of the Doha insurance Company. As a national company with a long-standing heritage and a proven track record for credibility and financial stability, we continuously look towards contributing to the prosperity and the wellbeing of our community, and are constantly setting new standards for innovation within the insurance sector.”
“Our pioneering spirit is what allows us to deliver a wide variety of insurance services. This includes state-of-the-art corporate and individual insurance, offering the most versatile and customized insurance programs, which correspond to every individual’s insurance needs”, concluded SHK. Al-Thani.
Doha Insurance Group aims today more than ever to educate audiences on the importance and positive benefits of having insurance in both their personal and professional lives, offer an exciting environment that values and rewards its customers and employees and enhance its clients’ satisfaction through tailor-made solutions according to their needs.
Mr. Bassam Hussein, President of Doha Insurance Group further commented saying: “For more than 17 years, Doha Insurance Group has been steadfast in its commitment to meeting the comprehensive insurance needs of our customers. As we look forward to the future, we know that our continued success rests squarely upon our ability to deliver premium services and solutions in the manner that has made the Doha Insurance Group a leader today, and our aptitude to demonstrate genuine concern for our clients and, above all, to serve them with integrity. We will also be focused, after completing required studies and getting necessary approvals, on implementing the group’s expansion strategy across the Middle East, with an eye on expanding internationally into the European market.”
Mr. Jassim Ali A. Al-Moftah, CEO of Doha Insurance Group said: “For many years, DIG has served as a trusted insurance partner to businesses and individuals equally. Our aim for the near future is to be recognized as the most innovative, customer focused and pioneering insurance Group in the region and beyond. And we aim to achieve this through increasing streams of income to the group via launching new products and services that are tailor-made to meet the ever-evolving needs of the market. We also aim to continue with our expansion plan, after completing required studies and getting necessary approvals, to explore branch and distribution channel opportunities and invest in technology to enhance efficiency of our products and solutions to leave a mark on the national institutions regionally and globally.
Throughout the years, Doha Insurance Group has achieved great milestones including: being listed in the Qatari stock market in 2001, establishing the Doha Takaful Islamic insurance branch in 2006 to offer fully integrated Shariah compliant services and products, and doubled its capital twice from QR180 million in 2008 to QR257 million in 2013, and QR500 million in 2014.
Further key milestones include: uplifting the group’s financials to be recognized by international financial firms for rating services such as Standard & Poor’s and A.M. Best receiving the rating of A- (Excellent); expanding into new markets and business sectors in a steady strategy since 2014, such as reinsurance operations through establishing the Mena Reinsurance arm in 2015; and strategically restructuring and recruiting top executive team members to pursue and implement the group’s strategic goals in early 2017.
Supported by highly motivated and well qualified team, Doha Insurance Group is now poised to play a leading role in both the regional and global insurance scene.
Doha Insurance Company disclosed its quarterly financial statements for the period ended 31/03/2017, with a net profit of QR 27.4 million compared to QR 22.4 million for the same period last year.
Earnings per share reached QR 0.55 in the first quarter of 2017 compared to QR 0.45 for the same period last year.
HE Sheikh Nawaf Nasser bin Khalid Al Thani, Chairman of Doha Insurance Group
The Board of Directors has set up a new set of appointments that will contribute to the continued growth of the Group's performance and efficiency over the years. His Excellency stressed that the Group gives priority to investing in the Qatari human resources through attracting and qualifying the national competencies in the insurance sector and working to raise the distillation rates in the group and in the sector in general. In order to achieve its objectives, Jassem Ali Abdul Rahman Al Muftah has been appointed as Chief Executive Officer in the context of restructuring the organizational structure in order to keep pace with the Group's new strategy to expand locally and regionally. They are vacated by qualified cadres and are highly qualified and experienced. The Group's management is also working to improve the training of existing employees to improve their performance and develop their skills. "
He added that the group works according to the Qatar National Vision 2030 by attracting national cadres with distinguished scientific and technical expertise capable of keeping up with the huge growth in this vital sector, which is one of the pillars of the national economy.
Mr. Jassim Al Miftah, a distinguished Qatari national with a long standing track record in the Gulf and regional insurance industry, served as CEO of the Gulf Takaful Group for several years before joining the Doha Insurance Group. He also served in the Foreign Service during the period After graduating from the University of Missouri in the United States of America (Bachelor of Political Science).
The Doha Insurance Group has completed all the arrangements under which it was transformed from one company to another, after the Extraordinary General Meeting of the General Assembly approved earlier this month to amend the provisions of Article (1) of the Company's Articles of Association to become the Doha Insurance Group Qatar).
Doha Insurance Company has announced that it has received the approval of Qatar Central Bank to appoint Jassem Ali Abdulrahman Jassim Al Muftah as its Chief Executive Officer. And that Mr. Jassem will start his work at the company as of Sunday, 09/04/2017.
Mr. Jassim has held senior positions in the insurance sector in the Qatari market during the past years.
Doha Insurance Company announced the results of its Ordinary General Meeting (EGM) and Extraordinary General Meeting (EGM) held on 07/03/2017 at Al Wajba Hall in La Cigale Hotel. The results were as follows:
First: Ordinary General Assembly Meeting:
The Ordinary General Assembly of the Company was held and its agenda was approved as follows:
1. The Board of Directors' report for the financial year ended 31/12/2016 and the Company's business plan for 2017 were heard.
2- The report of the Shari'a Supervisory Board on the Financial Statements of the Islamic Company "Doha Takaful" was approved for the financial year ended 31/12/2016.
3 - The report of the auditor of the company for the financial year ended
31/12/2016.
4. The company's budget and profit and loss account for the fiscal year ended 31/12/2016 have been approved.
5. The Board of Directors' recommendation for the distribution of cash dividend of 6% of the nominal value per share of QR 0.60 (AED 60) was approved.
6. The members of the Board of Directors have been discharged from responsibility for the financial period ended 31 December 2016 and their remuneration has been determined.
7. The corporate governance report for 2016 was adopted.
8. An External Auditor was appointed for the Company for the year 2017 (Deloitte & Touche) and determining the remuneration to be paid to him.
Second: Extraordinary General Assembly Meeting:
The extraordinary general assembly of the company was held and it was:
1. The Extraordinary General Assembly approves the amendment of the Company's name to become the Doha Insurance Group "Qatari Public Shareholding Company" and to authorize the Board of Directors to implement this decision.
"New Items"
2. An additional item has been included on the agenda of the Extraordinary General Assembly at the request of a number of shareholders representing more than 10% of the Company's capital. Shareholders have requested the approval of the shareholders to transfer the Islamic Company's Doha Takaful Company to a limited liability company based on Qatar Central Bank's initial approval in this regard.
The shareholders have agreed to transfer the subsidiary of the Islamic company "Doha Takaful" to a limited liability company and to appoint the Shari'a Supervisory Board headed by Dr. Ali Al Qarah Daghi with two other members to supervise, control and fatwa on the branch's work and to authorize the Chairman of the Board to implement this decision.
3. A new additional item was also included on the agenda of the Extraordinary General Assembly at the request of the Qatar Central Bank for the purpose of amending the Company's Articles of Association with regard to the "Preamble" section of that Regulation by adding the following paragraph:
"Subject to the provisions of the Commercial Companies Law promulgated by Law No. (11) for the year 2015, the financial services provided by the Company shall be applied in the event of merger or liquidation of the provisions of the Central Bank of Qatar Law and the Organization of Financial Institutions Law No. 13 of 2012".
Shareholders have agreed to amend the Articles of Association of the Company in the "Preamble" section in accordance with the above. And to delegate the Chairman of the Board of Directors to the implementation of this resolution.
Doha Insurance announced the results of its Ordinary and Extraordinary General Assembly Meetings held on March 07, 2017 in which it approved distributing cash dividends at 0.60 Rial/ share.
Doha Insurance announced the results of its Ordinary and Extraordinary General Assembly Meetings held on February 28, 2016 in which it approved distributing cash dividends at 1 Rial/ share. It also amended the company's Statute in accordance with the companies' law number 11/2015.
