A GROUP OF EXCELLENCE GROUP PROFILE

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1 A GROUP OF EXCELLENCE GROUP PROFILE

2 Qatar General Insurance & Reinsurance Co. S.A.Q.

4 4 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. Libya Algeria Qatar General Insurance & Reinsurance Co. S.A.Q.

5 5 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 Bahrain United Arab Emirates Oman Qatar

6 WHO WE ARE OUR VISION 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

OUR MISSION 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

6 6 WHO WE ARE OUR VISION 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. OUR MISSION 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. OUR VALUES 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. Over the past 35 years, the Group has built a powerful corporation due particularly to the strength of each individual company. Our past achievements and continuous growth propel the Group forward as we strive to meet the needs of Qatar and beyond. Ghazi Abu Nahl Group Chief Executive Officer Investor relations app Download our new investor relations app where you will get instant access to share price data, key financials and company information. You can also access our latest quarterly and annual reports at your convenience. Qatar General Insurance & Reinsurance Co. S.A.Q.

7 FINANCIAL HIGHLIGHTS Qatar General Insurance & Reinsurance Company QR 000 Consolidated Statement of Profit or Loss 2015 2014 2013 2012 2011 Gross written premiums 627,256 616,454 560,255 500,180

1,226,961 1,211,999 2,365,498 374,935 432,377 Total expenses (320,034) (310,863) (259,159) (255,904) (270,547) Profit for the year 925,804 920,023 2,130,985 175,560 170,322 Profit attributable to

1,198,603 Total investments 7,486,398 6,751,634 5,864,372 3,438,363 3,121,865 Total assets 9,409,516 8,553,738 7,111,892 4,714,810 4,282,968 Total gross technical reserves 1,101,580 769,321 688,322

7 7 FINANCIAL HIGHLIGHTS Qatar General Insurance & Reinsurance Company QR 000 Consolidated Statement of Profit or Loss Gross written premiums 627, , , , ,325 Net written premiums 200, , , , ,169 Net earned premiums 187, , , , ,835 Investment income 245, ,450 70,201 57,725 56,230 Total revenue 1,226,961 1,211,999 2,365, , ,377 Total expenses (320,034) (310,863) (259,159) (255,904) (270,547) Profit for the year 925, ,023 2,130, , ,322 Profit attributable to equity holders of the parent 925, ,756 2,130, , ,082 Consolidated Statement of Financial Position Liquid assets 1,454,292 1,879,294 1,349,483 1,052,543 1,198,603 Total investments 7,486,398 6,751,634 5,864,372 3,438,363 3,121,865 Total assets 9,409,516 8,553,738 7,111,892 4,714,810 4,282,968 Total gross technical reserves 1,101, , , , ,930 Net technical reserves 241, , , , ,386 Equity attributable to equity holders of the Parent 6,290,245 5,675,801 4,777,583 2,576,880 2,547,402 Total liabilities 3,117,062 2,875,823 2,332,462 2,136,635 1,734,832 Consolidated Statement of Cash Flows Net cash flows from operating activities 183, , ,753 15, ,978 Net cash flows used in investing activities (183,646) (54,619) (121,651) (314,006) (205,451) Net cash flows (used in) from financing activities (273,919) 232,564 58, , ,861 Cash and cash equivalents at 31 December 229, , ,676 42, ,790

8 SERVICING CUSTOMERS ACROSS THE MENA REGION Country of incorporation : Qatar Subsidiaries Qatar General Insurance & Reinsurance Company is a publicly-listed Qatari company offering insurance

Established: 5 March 1979 Ownership percentage: 100% Orientals Enterprises is a construction management business delivering residential, commercial, and industrial medium- to large-scale construction

8 8 SERVICING CUSTOMERS ACROSS THE MENA REGION Country of incorporation : Qatar Subsidiaries Qatar General Insurance & Reinsurance Company is a publicly-listed Qatari company offering insurance solutions for personal and commercial customers. Established: 5 March 1979 Ownership percentage: 100% Orientals Enterprises is a construction management business delivering residential, commercial, and industrial medium- to large-scale construction projects across Qatar. Established: 17 August 1999 Ownership percentage: 100% World Trade Center - Qatar is part of The World Trade Centers Association that promotes and facilitates trade and investment between Qatari and international companies. Established: 17 May 1995 Ownership percentage: 100% Qatar General Holding Company manages investment portfolios and is a subsidiary of Qatar General Insurance & Reinsurance Company. Established: 14 February 2008 Ownership percentage: 100% General Takaful Company is one of the leading providers of Shari a compliant insurance products in Qatar for personal and commercial customers. Established: 21 May 2008 Ownership percentage: 100% 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. Established: 7 November 2012 Ownership percentage: 100% General Company for Water and Beverages is a water treatment and bottling company with a purposebuilt factory for large-scale production and distribution of bottled water in cups, bottles and dispensers to the retail, catering and corporate markets. Established: 2 August 1983 Ownership percentage: 60% General Real Estate Company is a real estate development and management company and one of the leading players in the Qatar real estate market. Established: 30 March 2008 Ownership percentage: 100% 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. Established: 25 November 2014 Ownership percentage: 100% Mozoon Real Estate Company specialises in the project management and development of small- to medium-sized real estate projects in Qatar. Established: 29 July 2009 Ownership percentage: 50% Qatar General Insurance & Reinsurance Co. S.A.Q.

9 Associates Trust Syria Insurance Company is a leading insurance and reinsurance company in Syria offering insurance solutions for personal and commercial customers.

9 9 Associates Trust Syria Insurance Company is a leading insurance and reinsurance company in Syria offering insurance solutions for personal and commercial customers. Established: 5 April 2006 Country of incorporation : Syria Ownership percentage: 32% Trust Algeria Assurances & Reassurances is an insurance company located in Algiers, Algeria providing insurance solutions for individual and corporate customers. Established: 25 January 1995 Country of incorporation : Algeria Ownership percentage: 23% Trust Investment Holding Algeria oversees and manages Trust Group Investments. The company is a majority shareholder in Trust Bank Algeria and Trust Real Estate Established: 14 December 1998 Country of incorporation : Algeria Ownership percentage: 20% Trust Bank Algeria provides conventional banking products and services to private and commercial customers. Established: 30 December 2002 Country of incorporation : Algeria Ownership percentage: 20% International Financial Securities Company is a private Qatari company providing brokerage and trading services. Established: 3 June 1998 Country of incorporation : Qatar Ownership percentage: 12% Oman Reinsurance Company offers reinsurance services. The company provides fire, engineering, marine cargo, marine hull, accident, and motor reinsurance services. Established: 4 August 2008 Country of incorporation : Oman Ownership percentage: 25% The Arab Insurance Institute is an independent organisation providing training and education to insurance-related companies and professionals across the MENA region. Established: 21 December 2009 Country of incorporation : Syria Ownership percentage: 21% 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. Established: 31 January 1999 Country of incorporation : Qatar Ownership percentage: 20% Trust Insurance-Libya is part of the Trust International Insurance Group and offers insurance products for personal and commercial customers. Established: 19 November 2006 Country of incorporation : Libya Ownership percentage: 15% Gulf Assist is a Bahrain-based business that is part of a global insurance network providing insurance for individual and corporate customers. Established: 13 June 1994 Country of incorporation : Bahrain Ownership percentage: 8%

10 QATAR GENERAL INSURANCE & REINSURANCE COMPANY Qatar General Insurance & Reinsurance Company (QGIRCO) is one of Qatar s leading providers of insurance solutions for personal and

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

10 10 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. Personal insurance products Specialist business sectors Accident Business Medical Property Travel Motor Energy Motor Engineering Casualty Property Medical & Life Marine Qatar General Insurance & Reinsurance Co. S.A.Q.

11 GENERAL TAKAFUL COMPANY General Takaful is one of the leading providers of Shari a compliant general insurance solutions for commercial and personal customers in

With its growing network of branches across Qatar and key bancassurance agreements, General Takaful confirms its commitment to providing outstanding customer service

11 11 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 Specialist business sectors Accident Business Medical Family Takaful Property Travel Motor Energy Motor Engineering Casualty Property Medical & Group Family Takaful Marine

12 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

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

12 12 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 General Insurance & 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.

13 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

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.

13 13 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 Real Estate Developments Project Name Location Description 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

14 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

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

14 14 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: 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 Centers Association includes 325 World Trade Centers in 92 countries. 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. Through regular contact with local businesses and participation in strategic meetings, the World Trade Center - Qatar provides links to pursue international opportunities. Qatar General Insurance & Reinsurance Co. S.A.Q.

15 ORIENTALS ENTERPRISES Orientals Enterprises is an innovative Grade A-classification construction business with a strong track record of delivering residential, commercial, and industrial, medium-

15 15 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: Established in 1999, Orientals Enterprises continues to be focused on delivering significant infrastructure projects to meet the growing needs of the country. Orientals Enterprises delivers custommade solutions to its clients in construction management, project management, highrise development, and procurement. Over 50 projects completed in the past few years alone in housing and other commercial projects. 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.

16 BOARD OF DIRECTORS Sheikh Nasser Bin Ali Bin Saud Al Thani

Al-Kaabi Trading & Contracting Company Mr.

16 16 BOARD OF DIRECTORS Sheikh Nasser Bin Ali Bin Saud Al Thani Chairman and Managing Director Sheikh Mohammed Bin Ali Bin Saud Al Thani Deputy Chairman Mr. Mohammed Hamad Al-Mana Board Member Mr. Hamad Mohammad Al-Mana Board Member Mr. Khalifa Ali Al-Kaabi Board Member Representative of Ali Bin Saad Al-Kaabi Trading & Contracting Company Mr. Walid Ahmed Al-Saadi Board Member Representative of North Africa Energy Company Mr. Rashid Faisal Al-Nuaimi Board Member Representative of Al-Faisal Trading & Contracting Establishment Mr. Jamal Kamel Abu Nahl Board Member Representative of Al Sari Trading Company FATWA AND SHARI A SUPERVISORY BOARD Professor. Ali Muhyealdin Al-Quradaghi Chairman of Fatwa and Shari a Supervisory Board Qatar General Insurance & Reinsurance Co. S.A.Q.

17 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

17 17 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, 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 Barrage Deputy 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.

18 18 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 Thani Group Manager HR & Administration Sheikh Khalid Bin Nasser Al Thani has been the Group Manager of HR and Administration since joining the Group in 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 Wakim Acting Group Legal Manager Mr. Georges Antoine Wakim has been Acting Group Legal Manager since 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.

19 HEADS OF GROUP COMPANIES Ragheb Jalabi General Manager - General Real Estate Company Ragheb Jalabi manages one of the largest real estate companies in the market involving the continuous

19 19 HEADS OF GROUP COMPANIES Ragheb Jalabi General 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 Akel General 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 Adib El-Choufani General Manager - Orientals Enterprises Adib El-Choufani has been the General Manager of Orientals Enterprises since 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.

20 Main Contact Details QATAR GENERAL INSURANCE & REINSURANCE COMPANY Main Office Tel: +974 442 82222 Fax: +974 444 37302 P. O. Box 4500, Doha, Email: info@qgirco.

20 20 Main Contact Details QATAR GENERAL INSURANCE & REINSURANCE COMPANY Main Office Tel: Fax: P. O. Box 4500, Doha, Website: GENERAL TAKAFUL COMPANY Main Office Tel: Fax: P. O. Box 23990, Doha, Qatar GENERAL REAL ESTATE COMPANY Tel: Fax: P.O. Box 4500, Doha, Qatar Website: WORLD TRADE CENTER - QATAR Tel: Fax: P.O. Box 22357, Doha, Qatar info@wtcdoha.com Website: ORIENTALS ENTERPRISES Head Office Tel: Fax: P. O. Box 4729, Doha, Qatar info@orientalsqatar.com Website: orientals-enterprises.blogspot.qa Qatar General Insurance & Reinsurance Co. S.A.Q.

Qatar General Insurance & Reinsurance Company Q.P.S.C

Qatar General Insurance & Reinsurance Company Q.P.S.C Corporate Governance Report for 2017 Contents 4 5 6 6 6 8 9 10 10 10 11 12 12 18 18 18 19 19 20 20 21 22 23 23 23 24 24 25 25 26 26 27 27 Introduction