Mena News - Qatar: QGRI Reports 42% Fall in 2006 Net Gain
Source: Middle East Insurance Review | Mar 2007
Qatar General and Reinsurance Company (QGRI) has reported a 51% increase in underwriting revenue to QAR185.7 million ($51.0 million) in 2006. This was primarily due to impressive net premium earned, which was up by 60% to QAR153.4 million.
However, net claims incurred rose by over 46% to QAR101.29 million, contributing to a fall of over 42% in net profit to QAR60.3 million for 2006.