Qatar Islamic Insurance Reports QR45 Million in Net Profit

Doha, February 08 (QNA) - Qatar Islamic Insurance Company has disclosed the preliminary financial statements for the year ended December 31, 2011. The preliminary financials revealed a net profit of QR 45 million in 2011 versus QR 47.2 million in 2010, the company said in a statement published on the (Qatar Exchange) website. The company's EPS amounted to QR 3.02 in 2011 compared to QR 3.15 in 2010. Rise Recommendation to the General Assembly of the Company to approve the distribution of shareholders' dividend for the Financial Year 2011 at the rate of 30 % of the nominal price of the share ( QR 3 / share). Qatar Islamic Insurance Company (QIIC) one of the fastest growing insurance companies in Qatar and a national company with international reach, started transacting business in 1995. QIIC was among the first Islamic insurance companies in the world to introduce Takaful services (the Islamic alternative to life insurance) in 2000; and this is now one of our fastest growing classes of business. (QNA)