Qatar General Insurance posts 13-fold rise in full-year earnings

February 11, 2014 6:52 am

Qatar General Insurance and Reinsurance (QGIRC) Co has posted around 13-fold increase in full-2013 net profit to QR2.13bn, Gulf Times has reported. Gross written premium rose 12% to QR560.23m, of which domestic market contributed QR513.66m (92%) and the UAE QR46.6m (8%). The firm said. Investment income rose 22% to QR70.2m, while fees and commission income fell 37% to QR15.56m and other operating revenue by 31% to QR12.18m. Total revenue showed a more than 6-fold jump to QR2.37bn.