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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. |
The board of directors’ meeting
The board of directors will meet on 15/8/2010, to discuss and approve the reviewed financial reports for the period ending June 30, 2010. More DetailsArab Orient for Business Development has signed an agency contract
Arab Orient for Business Development has signed an insurance agency contract with Doha Insurance, where the last act as an exclusive agent for Doha Insurance within the State of Qatar More DetailsProfit triples in the first quarter of this year
The chairman Sheikh Nawaf Nasser bin Khaled al-Thani and General Manager Mr. Bassam Hussein were interviewed by Gulf Times about significant increase in gross premium and higher underwriting income earned in the first quarter of this year. More DetailsInterim Financial Statement for three months
Interim financial statement for the three month period ended March 31, 2010 showed net profit of QR 18.4 Million in comparison to QR 6.4 Million for the corresponding period in 2009. More DetailsDividends collection
Shareholders can collect the cheques for their dividends from Wednesday 24th of March 2010 from our main office or by submetting this formMore Details
Completion of Annual General Assembly Meeting
The Doha Insurance Annual General Assembly was held on Monday 22nd of March 2010, at Al Wajba Hall, Lacigal Hotel. During the meeting, the shareholders of Doha Insurance. More Details
Good NEWS for DIC SHAREHOLDERS
Get your dividends directly deposited into your bank account. Just download and fill out this FORM and either fax (4657777) or submit to Accounts Department of our main office.
