Doha Insurance Company (Q.S.C.) is a Qatari shareholding company registered and incorporated in the State of Qatar under Emiri Decree No. 30 issued on 2nd October 1999. The Company was formed in 2000 in response to the need for growth in the insurance industry, warranted by unprecedented accelerated economic expansion in Qatar as well as the enactment of laws encouraging investments. During 2006, the Company established an Islamic Takaful branch under the brand name Doha Takaful to carry out insurance and reinsurance activities in accordance with Islamic Sharia principles on a non-usury basis in all areas of insurance.
STANDARD & POOR'S has assigned BBB/Stable/--- interactive rating to Doha Insurance in March 2006. Despite being the newest of the five national insurance companies, Doha Insurance's development is seen as rapid. Its 2008 gross premium was QR 316 million ($ 86.75 million) which is almost four times the volume seen in 2004 which was QR 83 million ($ 22.75 million). Supported by a highly motivated and well qualified team, Doha Insurance is now poised to play a major role in the regional insurance industry.
Chairman Message
Dear shareholders,
I am very pleased to present our 7th Report – for 2007 as well as the financial statements for the year ended 31th December 2007.At the beginning, I would like to express the satisfaction of the board of Director on the good result of the company. Your Company has succeeded to maintain the excellent pattern of growth since established and to fulfill the ambition to increase its market share despite the tough competition in the local market. The company has also managed to renew its reinsurance treaties with world’s top class reinsurance companies. Now, I would like to summarize the key financial result achieved during 2007.
The Gross Written Premium reached QR 252 million in 2007 compared to QR 201 million in 2006, an increase of 25%. The Underwriting Profit amounted to QR 39 million in 2007 compared to QR 27 million in 2006, an increase 44%. Now, I would like to summarize the key financial result achieved during 2007. The Gross Written Premium reached QR 252 million in 2007 compared to QR 201 million in 2006, an increase of 25%. The Underwriting Profit amounted to QR 39 million in 2007 compared to QR 27 million in 2006, an increase 44%. The Return on Investment from Local Stocks and Deposits at Local Banks amounted to QR 27 million in 2007 compared to QR 20 million in 2006. The Shareholder’s Equity amounted to QR 303 million at the end of 2007 compared to QR 263 million at end of 2006. More Details |
Sh. Nawaf Bin Nasser Bin Khaled Al-Thani Chairman |
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Gen. Dahlan Jamaan Basheer Al-Hamad Vice Chairman |
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Mr. Adel Ali Bin Ali Managing Director |
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Bassam Hussein, General Manager Bassam has 25 years experience in insurance and reinsurance industry. He is a chemical engineer and an Associate of the Chartered Insurance Institute of London. He spent ten years as an energy underwriter responsible for an international energy book of business and a further ten years in the direct insurance market being responsible for underwriting government and major accounts. |
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Mahmoud Al Nasir Assistant General Manager, Technical Mahmoud has 28 years experience in the GCC and international insurance markets. He has been involved in major energy accounts and government business for a very long time. Mahmoud is an authorized Chartered Insurer, an Associate of the Chartered Insurance Institute of London/ Chartered Insurer and has a BA in Business Administration. |
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Walid AL Kuffash Assistant General Manager, Motor B. Commerce degree from Beirut University . He has 27 years experience in Motor Underwriting and Claims in the GCC and Arab Insurance Markets. |
Company discloses Interim Financial Statement
Company disclosed the interim financial statement for the three month period ended March 31, 2012. The financial statements revealed a net profit of QR 21.2 Million More DetailsCompany will discloses 1st Quarter Financial Statement on April 16, 2012
Doha Insurance Company announces its intent to disclose its first quarter “reviewed” Financial Statements on Monday 16 April, 2012.General Assembly approves agenda and Distribution of 30% bonus shares
Company announced the resolutions of Ordinary & Extraordinary General Assembly Meetings held Sunday 29 February 2012. Issued the following resolutions: More DetailsAgenda for Annual ordinary and extraordinary General Assembly meeting
The Board of Directors of the Company is pleased to invite the shareholders to attend the Ordinary and the Extra Ordinary General Meetings, which will be held at 3:30 PM, 28/2/2012 at Lacigal. More DetailsCompany discloses 2011 Audited Financial statement
Company has disclosed the audited financial statements for the year ended December 31, 2011. The audited financials revealed a net profit of QR 65.8 million in 2011 More Details
