GROUP PROFILE - qgirco.com · Qatar General Holding Company manages investment portfolios and is a...
Transcript of GROUP PROFILE - qgirco.com · Qatar General Holding Company manages investment portfolios and is a...
GROUP PROFILE
A GROUP OF EXCELLENCE
Qatar General Insurance & Reinsurance Co. S.A.Q.
www.qgirco.com
Libya
Algeria
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All our companies are leaders in their fields. Each one is a recognised force in their individual market. Collectively, they form our Group
because together we are stronger.
Qatar General Insurance & Reinsurance Co. S.A.Q.
United ArabEmiratesBahrain
Qatar
Oman
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Qatar General Insurance & Reinsurance Company is a diversified group of market-leading companies.
With headquarters in Qatar, and subsidiaries and associated companies across the MENA region, the
Group covers multiple industries, with core functions in the insurance and real estate sectors.
Established 1979
A group of companies spanning the Middle East & North Africa
Publicly listed company on the Qatar Exchange since May 1997
Syria
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WHO WE ARE
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To be the leading Group in Qatar and the MENA region, providing a strategic mix of products and services through dedicated companies and knowledgeable employees, creating indisputable customer loyalty and solid business partnerships built on trust, respect and fairness.
To develop and deliver market-leading products and services to clients in Qatar and the MENA region that support the development of local and regional communities through the collaboration of the Group’s member companies.
Trust, respect and loyalty are the pillars of the Group’s values. As such, all our employees proudly contribute to the success and security of each company and their clients, which in turn underpins the overall achievements of the Group.
OUR VISION
OUR MISSION
OUR VALUES
Over the past 35 years, the Group has built apowerful corporation due particularly to the strengthof each individual company. Our past achievements and continuous growth propel the Group forward aswe strive to meet the needs of Qatar and beyond.
Ghazi Abu NahlGroup Chief Executive Officer
Qatar General Insurance & Reinsurance Co. S.A.Q.
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FINANCIAL HIGHLIGHTS
Qatar General Insurance & Reinsurance Company
Consolidated Statement of Profit or Loss
Gross written premiums
Net written premiums
Net earned premiums
Investment income
Total revenue
Total expenses
Profit for the year
Profit attributable to equity holders of the parent
Consolidated Statement of Cash Flows
Net cash flows from operating activities
Net cash flows used in investing activities
Net cash flows (used in) from financing activities
Cash and cash equivalents at 31 December
Consolidated Statementof Financial Position
Liquid assets
Total investments
Total assets
Total gross technical reserves
Net technical reserves
Equity attributable to equity holders of the Parent
Total liabilities
2015
627,256
200,706
187,161
245,916
1,226,961
(320,034)
925,804
925,709
2015
183,248
(183,646)
(273,919)
229,250
2015
1,454,292
7,486,398
9,409,516
1,101,580
241,710
6,290,245
3,117,062
2014
616,454
190,748
198,005
192,450
1,211,999
(310,863)
920,023
919,756
2014
170,946
(54,619)
232,564
503,567
2014
1,879,294
6,751,634
8,553,738
769,321
223,545
5,675,801
2,875,823
2013
560,255
207,796
205,989
70,201
2,365,498
(259,159)
2,130,985
2,130,433
2013
175,753
(121,651)
58,318
154,676
2013
1,349,483
5,864,372
7,111,892
688,322
204,552
4,777,583
2,332,462
2012
500,180
202,534
195,629
57,725
374,935
(255,904)
175,560
174,999
2012
15,746
(314,006)
189,678
42,256
2012
1,052,543
3,438,363
4,714,810
623,067
186,858
2,576,880
2,136,635
2011
471,325
186,169
198,835
56,230
432,377
(270,547)
170,322
170,082
QR’000
2011
102,978
(205,451)
197,861
149,790
2011
1,198,603
3,121,865
4,282,968
532,930
163,386
2,547,402
1,734,832
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SERVICING CUSTOMERS ACROSS THE MENA REGION
Subsidiaries
Country of incorporation : Qatar
Qatar General Insurance & Reinsurance Company is a publicly-listed Qatari company offering insurance solutions for personal and commercial customers.
World Trade Center - Qatar is part of The World Trade Centers Association that promotes and facilitates trade and investment between Qatari and international companies.
Orientals Enterprises is a construction management business delivering residential, commercial, and industrial medium- to large-scale construction projects across Qatar.
Qatar General Holding Company manages investment portfolios and is a subsidiary of Qatar General Insurance & Reinsurance Company.
General Takaful Company is one of the leading providers of Shari’a compliant insurance products in Qatar for personal and commercial customers.
General Real Estate Company is a real estate development and management company and one of the leading players in the Qatar real estate market.
Mozoon Insurance Marketing Services is the primary direct marketing arm for Qatar General Insurance & Reinsurance Company, marketing insurance solutions to personal and commercial customers across Qatar.
General Tower for Real Estate Investments is a tower rented entirely to Qatar Petroleum – a flagship company of the Country that is responsible for all oil and gas processes in Qatar.
General Company for Water and Beverages is a water treatment and bottling company with a purpose-built factory for large-scale production and distribution of bottled water in cups, bottles and dispensers to the retail, catering and corporate markets.
Mozoon Real Estate Company specialises in the project management and development of small- to medium-sized real estate projects in Qatar.
Established: 5 March 1979
Ownership percentage: 100%
Established: 17 May 1995
Ownership percentage: 100%
Established: 17 August 1999
Ownership percentage: 100%
Established: 14 February 2008
Ownership percentage: 100%
Established: 21 May 2008
Ownership percentage: 100%
Established: 30 March 2008 Ownership percentage: 100%
Established: 7 November 2012
Ownership percentage: 100%
Established: 25 November 2014
Ownership percentage: 100%
Established: 2 August 1983
Ownership percentage: 60%
Established: 29 July 2009
Ownership percentage: 50%
Qatar General Insurance & Reinsurance Co. S.A.Q.
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Associates
Trust Syria Insurance Company is a leading insurance and reinsurance company in Syria offering insurance solutions for personal and commercial customers.
Oman Reinsurance Company offers reinsurance services. The company provides fire, engineering, marine cargo, marine hull, accident, and motor reinsurance services.
Trust Algeria Assurances & Reassurances is an insurance company located in Algiers, Algeria providing insurance solutions for individual and corporate customers.
The Arab Insurance Institute is an independent organisation providing training and education to insurance-related companies and professionals across the MENA region.
Trust Investment Holding Algeria oversees and manages Trust Group Investments. The company is a majority shareholder in Trust Bank Algeria and Trust Real Estate
Qatari Unified Bureau Insurance provides Shari’a compliant insurance for vehicles entering the State of Qatar as well as those leaving for travel within the GCC.
Trust Bank Algeria provides conventional banking products and services to private and commercial customers.
Trust Insurance-Libya is part of the Trust International Insurance Group and offers insurance products for personal and commercial customers.
International Financial Securities Company is a private Qatari company providing brokerage and trading services.
Gulf Assist is a Bahrain-based business that is part of a global insurance network providing insurance for individual and corporate customers.
Established: 5 April 2006
Country of incorporation : Syria
Ownership percentage: 32%
Established: 4 August 2008
Country of incorporation : Oman
Ownership percentage: 25%
Established: 25 January 1995
Country of incorporation : Algeria
Ownership percentage: 23%
Established: 21 December 2009
Country of incorporation : Syria
Ownership percentage: 21%
Established: 14 December 1998
Country of incorporation : Algeria
Ownership percentage: 20%
Established: 31 January 1999
Country of incorporation : Qatar
Ownership percentage: 20%
Established: 30 December 2002
Country of incorporation : Algeria
Ownership percentage: 20%
Established: 19 November 2006
Country of incorporation : Libya
Ownership percentage: 15%
Established: 3 June 1998
Country of incorporation : Qatar
Ownership percentage: 12%
Established: 13 June 1994
Country of incorporation : Bahrain
Ownership percentage: 8%
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QATAR GENERAL INSURANCE & REINSURANCE COMPANY
Qatar General Insurance & Reinsurance Company (QGIRCO) is one of Qatar ’s leading providers of insurance solutions for personal and commercial customers and services a majority share of Qatar ’s rapidly-growing customer-base with its wide range of products.
Servicing many of the top companies in Qatar, QGIRCO dominates the personal and commercial insurance markets providing customers with individual
and commercial risk-management and loss-prevention solutions.
Specialist business sectors
Energy
Motor
Engineering
Casualty
Property
Medical & Life
Marine
Personal insurance products
Accident
Business
Medical
Property
Travel
Motor
Qatar General Insurance & Reinsurance Co. S.A.Q.
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GENERAL TAKAFUL COMPANY
General Takaful is one of the leading providers of Shari’a compliant general insurance solutions for commercial and personal customers in Qatar, providing market-leading products with value-added features and exemplary service from quotation to claim.
With its growing network of branches across Qatar and key bancassurance agreements, General Takaful confirms its commitment to providing outstanding
customer service across the country.
Personal insurance products
Accident
Business
Medical
Family Takaful
Property
Travel
Motor
Specialist business sectors
Energy
Motor
Engineering
Casualty
Property
Medical & Group Family Takaful
Marine
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QATAR GENERAL HOLDING COMPANY
Qatar General Holding Company (QGH) has two primary functions: to own most of the Group’s subsidiary companies and to manage the treasury and investment functions of the Group. As the investment arm of the Group, QGH manages the QR 1.2 billion investment portfolio in stocks, bonds and managed funds. It is also responsible for investments in associate companies.
QGH takes an active role in securing funding from regional relationships for some of the Group’s major real estate developments through GRECO, and uses its in-house
expertise to scrutinise the economic viability of strategic acquisitions
As a wholly-owned subsidiary of Qatar GeneralInsurance & Reinsurance Company, QGH is focused on the regional market, analysing and pursuing worthwhile trade and investment opportunities that will deliver to the expectations of its Shareholders.
Qatar General Insurance & Reinsurance Co. S.A.Q.
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GENERAL REAL ESTATE COMPANY
General Real Estate Company (GRECO) is a real estate development and management company, and one of the leading players in the real estate market with a QR 6 billion portfolio and a number of high-profile projects in progress.
Continual reinvestment in major real estate developments throughout the country supports the exponential growth of Qatar and confirms GRECO’s proud commitment to
Qatar National Vision 2030.
Real Estate Developments
Project Name DescriptionLocation
General Tower
Mozoon Towers
Waterfront Tower
Block H – Fox Hills
Residential Development
Mixed Use Development
Corniche Road
West Bay
Lusail
Lusail
Al Wakrah
Salwa Road
Offices leased to Qatar Petroleum
Hospitality and residential development to be operated by Marriott and Oberoi
Hospitality; Oberoi will operate the serviced apartments
Residential, office and retail development
Residential Development
Hotel and commercial development
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WORLD TRADE CENTER - QATAR
The World Trade Center - Qatar is part of the World Trade Centers Association and supports the growth of the local economy through promoting and facilitating trade and investment opportunities between Qatar and international companies.
Each year, the World Trade Center in Qatar builds on its impressive global member network by introducing new local and international businesses to mutually-beneficial business
opportunities that will increase their reach and international presence.
Key facts:
The World Trade Centers Association includes 325 World Trade Centers in 92 countries.
Through regular contact with local businesses and participation in strategic meetings, the World Trade Center - Qatar provides links to pursue international opportunities.
For the past 20 years, the World Trade Center - Qatar has planned and hosted events aimed at introducing trading partners to the Qatari market.
The World Trade Center - Qatar helps local businesses extend their reach through trade missions and access to business services in their state-of-the-art facilities.
Qatar General Insurance & Reinsurance Co. S.A.Q.
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ORIENTALS ENTERPRISES
Orientals Enterprises is an innovative Grade A-classification construction business with a strong track record of delivering residential, commercial, and industrial, medium- to large-scale construction projects across Qatar.
Orientals Enterprises is focused on delivering vital infrastructure projects throughout Qatar, using innovative and sustainable construction solutions to
achieve exceptional results.
Key facts:
Orientals Enterprises delivers custom-made solutions to its clients in construction management, project management, high-rise development, and procurement.
Orientals Enterprises manages a 500-strong workforce, divided into various disciplines related to the company’s work to bring a specialist approach to all project elements.
Established in 1999, Orientals Enterprises continues to be focused on delivering significant infrastructure projects to meet the growing needs of the country.
Over 50 projects completed in the past few years alone in housing and other commercial projects.
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BOARD OF DIRECTORS
Sheikh Nasser Bin Ali Bin Saud Al Thani
Chairman andManaging Director
Sheikh Mohammed Bin Ali Bin Saud Al Thani
Deputy Chairman
Mr. Mohammed Hamad Al-Mana
Board Member
Mr. Hamad MohammadAl-Mana
Board Member
Mr. Khalifa Ali Al-Kaabi
Board MemberRepresentative of Ali Bin Saad Al-KaabiTrading & Contracting Company
Mr. Rashid FaisalAl-Nuaimi
Board MemberRepresentative ofAl-Faisal Trading & Contracting Establishment
Mr. Walid AhmedAl-Saadi
Board Member
Representative of NorthAfrica Energy Company
Professor. Ali Muhyealdin Al-Quradaghi
Chairman of Fatwa and Shari’aSupervisory Board
Mr. Jamal Kamel AbuNahl
Board Member
Representative of Al Sari Trading Company
FATWA AND SHARI’A SUPERVISORY BOARD
Qatar General Insurance & Reinsurance Co. S.A.Q.
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GROUP EXECUTIVE COMMITTEE
Sheikh Nasser Bin Ali Bin Saud Al Thani Chairman and Board of Directors
Sheikh Nasser is a distinguished leader in the business community with close to 30 years’ experience in insurance, investments, banking, real estate and
general contracting. An innovator and a strategic thinker, Sheikh Nasser has a notable track record
in high-level management. He holds a number of executive and board positions in leading
organisations in Qatar and across the region.
Jamal Abu Nahl Chief Executive Officer and Board Member
Mr. Jamal Abu Nahl leads the Group’s insurance and investment operations. He is also Chief Executive
Officer for Qatar General Holding Company. Mr. Abu Nahl has more than 30 years’ experience
in business, investments and related fields, including project development. Towards the end of 2008, he
successfully spearheaded the Group’s reorganisation into a holding company.
Ghazi Abu Nahl Chief Executive Officer
Mr. Ghazi Abu Nahl’s insurance career began with Arab Commercial Enterprises in Qatar, 1960. In 1979, Mr. Abu Nahl formed Qatar General Insurance & Reinsurance Company. Today, Mr. Abu Nahl’s vision is to see the Group maintaining the highest standards of professionalism and becoming a household name regionally. He is committed to strengthening the calibre of staff, enhancing long-term relationships with strategic partners, and expanding the Group’s presence in new markets.
Abdallah BarrageDeputy Chief Executive Officer - Investment
Mr. Abdallah Barrage is Deputy Chief Executive Officer of Qatar General Holding Company (QGH). Mr. Barrage spearheaded the restructuring of the Group through the segregation of core insurance activity and investment operations, and contributed towards the establishment of Qatar General Holding Company (QGH) and General Real Estate Company (GRECO). He also serves as Director representing QGIRCO on the board of several associated companies. Mr. Barrage is a highly respected figure in the local and regional financial markets, a reputation he earned through more than 35 years of his extended banking career in the region.
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GROUP LEVEL SENIOR MANAGEMENT
Mohammad Al Lahham Group Chief Financial Officer
Mr. Mohammad Al Lahham is the Group CFO and has more than 15 years’ experience in key positions with
large regional and international corporations. Mr. Lahham is a qualified professional accountant (CPA) and an expert in areas including planning,
corporate finance, financial control, auditing, budgeting and risk management, with extensive global
exposure to diverse markets and investment trends in his areas of expertise. He also holds a Masters of
Business Administration (MBA) in Finance
Wessam Al Habli Group ICT Manager
With over 26 years leading ICT for the Group, Mr. Al Habli has laid the foundation for all our
ICT functions. He has acquired, implemented and integrated the Group’s technology, and increased
core system availability by implementing robust standards and best practices. Mr. Al Habli’s major
IT-related projects include setting up new branches, launching a fully functioning disaster recovery site,
and implementing CCTV and access control systems integrated with the HR system.
Sheikh Khalid Bin Nasser Al ThaniGroup Manager — HR & Administration
Sheikh Khalid Bin Nasser Al Thani has been the Group Manager of HR and Administration since joining the Group in 2011. In his role, Sheikh Khalid is responsible for supervising efficient and effective operations of the Group’s human resources and administrative functions. He has participated in the ‘Qatari Labour and Employment Law’ programme and is currently pursuing a degree in human resources from Qatar University.
Georges WakimActing Group Legal Manager
Mr. Georges Antoine Wakim has been Acting Group Legal Manager since 2014. With over 10 years’ legal experience, he has held various positions in Lebanon and the UAE. In Lebanon, he was the legal advisor/lawyer for Nest Investments Holdings Ltd, and practised law at Abou Jaoude & Associates Law Firm. In the UAE, he held internships with companies including Simmons & Simmons, Al Hekma and Veco Engineering (subsidiary of CH2M Hill). He belongs to the Beirut Bar Association.
Qatar General Insurance & Reinsurance Co. S.A.Q.
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HEADS OF GROUP COMPANIES
Ragheb JalabiGeneral Manager - General Real Estate
Company
Ragheb Jalabi manages one of the largest real estate companies in the market involving the continuous
development of major real estate projects throughout Qatar. Previously Mr. Jalabi, an architect engineer,
managed significant construction projects such as the General Tower, Twin Towers, Al Waab City, and
numerous high profile constructions in Dubai.
Sadallah ElSaid, General Manager World Trade Center - Qatar
Sadallah ElSaid is the General Manager of the World Trade Center - Qatar. Mr. ElSaid has held various management roles across a number of prominent businesses in the region. His extensive education includes credentials as an automobile industrial
engineer, an oil industry engineer and safety engineer.
Majed AkelGeneral Manager – General Takaful Company
Majed Akel has over 35 years’ experience in the insurance and reinsurance industry and has been part of QGIRCO for many years, holding a number of high profile executive positions prior to becoming General Manager of General Takaful Company in 2008.
Adib El-ChoufaniGeneral Manager - Orientals Enterprises
Adib El-Choufani has been the General Manager of Orientals Enterprises since 2008. During his career, Mr. El-Choufani has developed and managed construction divisions in various high-profile companies prior to joining Orientals Enterprises. He envisioned and completed many prestigious projects including the first version of the new Doha international airport, Barzan Tower, Al-Ahli Hospital, and Al- Rayyan and Al-Ittihad Stadiums.
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Main Contact Details
QATAR GENERAL INSURANCE & REINSURANCE COMPANY
Main Office
P. O. Box 4500, Doha, Email: [email protected]
Tel: +974 442 82222
Website: www.qgirco.com
Fax: +974 444 37302
GENERAL TAKAFUL COMPANY
Main Office
Tel: +974 443 39777
Fax: +974 446 62507
P. O. Box 23990, Doha, Qatar
Email: [email protected]
Website: www.g-takaful.net
GENERAL REAL ESTATE COMPANY
Tel: +974 442 84222
Fax: +974 442 82272
P.O. Box 4500, Doha, Qatar
Email: [email protected]
WORLD TRADE CENTER - QATAR
Tel: +974 443 54141
Fax: +974 444 23048
P.O. Box 22357, Doha, Qatar
Email: [email protected]
Website: www.wtcdoha.com
ORIENTALS ENTERPRISES
Head Office
Tel: +974 440 98222
Fax: +974 446 57053
P. O. Box 4729, Doha, Qatar
Email: [email protected]
Website: orientals-enterprises.blogspot.qa
Qatar General Insurance & Reinsurance Co. S.A.Q.