News

Mena News - Qatar: QIIC Net Contributions Total QAR56 mln

Source: Middle East Insurance Review | Mar 2007

Qatar Islamic Insurance Company (QIIC) reported that net contributions climbed 24% to QAR56.27 million ($15.36 million), while net underwriting income increased three-fold to QAR6.12 million in 2006.

However, investment income plunged by 69% to QAR14.77 million, while net claims increased by 17% to QAR50.15 million in 2006 leading to a 70% reduction in net profit to QAR36.64 million in 2006.

QIIC, which is planning to set up a subsidiary in Syria, has announced the opening of two subsidiaries in Pakistan with an initial paid-up capital of Rs650 million ($10.74 million).

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.