Qatar Insurance Group raises capital to USD 0.66bn
22 Feb 2016
(MENAFN) Qatar Insurance Group confirmed to increase the company’s capital to USD 0.66bn from USD 0.50bn, and cash dividend payout of 25 percent.
However, despite slow economic growth and falling supply prices, the firm registered 49 percent yearly growth in Gross Written Premium (GWP) to USD 2.28bn.
The main reasons for the growth involved, reinsurance premiums, generated through QIC’s dedicated global reinsurance subsidiary, which grew at 116 percent.
In addition, the firm revenue for the whole year 2015 stood at USD 0.29bn, compared to USD 0.27bn for the same period a year earlier.