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FINANCIAL NEWS
Qatar Insurance Co. revenue reaches USD 0.74bn in Q1
20 Apr 2016
(MENAFN) Qatar Insurance Co. (QIC) proclaimed its financials for the first quarter ended March 31, 2016 and posted a double-digit increase in its Gross Written Premium (GWP).
Moreover, the firm recorded a positive GWP of USD 0.74bn, viewing an increase of 41 percent compared to Q1 2015, which was related to the Group’s strong underwriting capabilities.
Additionally, net underwriting result in Q1 was USD 76.0mn, showing grow of 12 percent on the previous year, among challenging global economic situation.
The Board of Directors confirmed an increase in capital during the Annual General Meeting, which would also offer long term sustainable funding for growth.
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