Domestic dominance Regional leadership Global ambitions June 2017
Founded in 1964, Qatar Insurance Company (QIC) is the largest insurance powerhouse in the MENA region 2
QIC - KEY FACTS AND FIGURES June 2017 Solid foundation QIC steadily evolved from a domestic player to a regional leader on to global ambitions over 50 years Strong financials GWP: QAR 6.23 billion Net profit: QAR 505 million ROE: 12.3% Market Capitalization: QAR 18.6 billion Five pillar strategy Direct insurance Specialty insurance Reinsurance Life and Medical Asset Management Stable sources of income Consistent underwriting performance over 50 years Outstanding investment contribution Strong financial strength A (Excellent) AM Best financial strength rating A / Stable outlook, Standard & Poor s financial strength rating High risk maturity Best in class Enterprise Risk Management practices 3
52 YEARS OF OPERATIONAL EXCELLENCE En route to establishing a global footprint based on domestic dominance and regional leadership Source: S&P CAPITAL IQ MENA: QIC No 1 of 116 companies Asia Pacific: QIC No 10 of 264 excl. L&H World: QIC No 109 of 375 companies QIC established Current Senior Management appointed KQIC (Kuwait) and OQIC (Oman) established Qatar Re established 50 th Anniversary and acquisition of Antares Qatar Re re-domiciled to Bermuda and established branch in Dubai 1964 1968 1986 2002 2004 2006 2009 2011 2014 2015 Dubai branch established Abu Dhabi branch established QIC International established Q-Life & Medical established QIC Europe Ltd established in Malta Antares established Antares Asia in Singapore 4
SUSTAINED GROWTH FROM DIVERSIFIED SOURCES Net profit (attributable to parent) in QAR million Return on Equity in % Earnings per share in QAR Market Capitalization in QAR million 2017 H1 505 12.3 2016 1,034 14.7 2015 1,044 18.1 2014 1,001 18.4 2013 753 17.1 QIC Group: Well diversified multi-pillar business set-up 1.89 4.48 4.84 4.15 3.12 18,691 20,449 15,139 14,545 8,541 Direct Insurance QIC Specialty Insurance Antares Life & Medical Qatar Life & Medical Reinsurance Qatar Re Asset Management QIC Asset Management Real Estate QIC Real Estate June 2016: Financial strength rating A (strong), outlook stable www.standardandpoors.com Jan 2017: Financial strength rating of A (excellent) www.ambest.com 5
717 604 1,027 899 925 At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix OUTSTANDING FINANCIAL PERFORMANCE Gross written premiums in QAR million Underwriting results in QAR million 3,532 5,614 8,347 9,901 6,239 485 664 926 844 263 2013 2014 2015 2016 2017 H 1 2013 2014 2015 2016 2017 H 1 Investment results in QAR million Net profit Attributable to parent in QAR million 2,000 1,600 1,200 800 753 1,001 1,044 1,034 505 400 0 2013 2014 2015 2016 2017 H 1 2013 2014 2015 2016 2017 H 1 6
Strategy 7
EXPANDING GLOBALLY AND CONSOLIDATING REGIONAL LEADERSHIP Bermuda London Zurich Malta Singapore Qatar Re US & NatCat Qatar Re HQ Antares Group Holdings Antares Lloyds 1274 Syndicate Qatar Re Rep. Office Qatar Re Continental Europe and global operations QIC Europe Ltd Qatar Re Asia Branch Antares Asia Doha Dubai Abu Dhabi Muscat Kuwait QIC Group s HQ and domestic operations QIC Capital QIC direct insurance operations (UAE) Qatar Re DIFC Branch QIC direct insurance operations (UAE) Oman Qatar Insurance Company Kuwait Qatar Insurance Company 8
BROAD SPECTRUM OF CAPABILITIES QIC Domestic Reinsurance Specialty Life & Medical Asset Management LOG IN JOIN Personal lines o Motor Agriculture Credit & Surety Aviation Financial Institutions E ARE COM M I TTED TO BUI LDI N G TH E FI RST ABOUT US PRODUCTS QATAR RE HUBS NEWS & MEDIA CONTACT US o Home o Travel o PAB Commercial lines o Energy o Marine & Aviation o Medical o Motor o Property & Commercial Energy Engineering Facultative Marine & Aviation GUNTHER SAACKE Motor Property Structured Finance Marine Political and OBAL REI N SURANCE FRANCH I SE, BASED ON EM ERGI NG M ARKET CAPI TAL Chief Executive Of cer Financial Risk Professional indemnity Property Excess of Loss Terrorism Group Life Credit Life Mortgage Life Group Medical Proprietary asset management Third party asset management Collateralized reinsurance (CATCO) 9
Competitive Position 10
-197 1,034 777 300 80 203 612 156 771 48 2,558 3,523 2,354 6,565 7,190 6,430 6,945 4,886 2,772 3,360 4,458 3,100 9,901 7,818 7,705 13,079 28,715 At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix DOMINANT POSITION IN THE MENA REGION Regional comparison (FY 2016) in QAR million 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0-5,000 QIC Tawuniya Orient Oman Ins. Co ADNIC Bupa Arabia Gulf Ins. Co Salama Med Gulf Total Assets Gross premium Net profit attributable to parent QIC consistently outperforms major regional insurance and reinsurance groups due to its focus on Technical excellence in underwriting and asset management Diversified growth across business segments and geographies 11
SIGNIFICANT POTENTIAL FOR GLOBAL AND REGIONAL GROWTH QIC Domestic and regional o Dominant market share in Qatar and ahead of its peers in MENA o Significant growth potential in rapidly growing MENA insurance markets QIC domestic/regional GWP USD 804 million MENA Life & Non-Life USD 50 billion Qatar Re o Ranked 35 th amongst top 50 global reinsurers o Aspires to become a Top 10 reinsurer by 2025 o Continues to expand geographically and by line of business QATAR RE HUBS NEWS & MEDIA CONTACT US LOG IN JOIN Qatar Re GWP USD 1.24 billion GWP Top 10 reinsurer USD 6 billion Antares o Established as independent Managing Agent at Lloyd s, the world s global insurance and reinsurance market of choice ED TO BUI LDI N G TH E FI RST o NCE FRANCHoI SE, BASED ON M ARKET CAPI TAL GUNTHER SAACKE Chief Executive Of cer Ranks no. 32 within Lloyd s by GWP Synergies with QIC have potential to enhance growth QIC Group o Aspires to become a Top 50 international composite insurance group o Well diversified by geography, lines of business and sectors Ranked 109 worldwide by market cap o Antares GWP USD 453 million QIC Group GWP USD 2.72 billion GWP Lloyd s USD 40 billion Global Non-Life GWP USD 1.4 trillion 12
Performance 13
STRONG TRACK RECORD OF TOP AND BOTTOM-LINE GROWTH.. Key Highlights (QAR million) 2013 2014 2015 2016 2017 H 1 Gross premium 3,532 5,614 8,347 9,901 6,239 Underwriting results 485 664 926 844 263 Net profit (attributable to parent) 753 1,001 1,044 1,034 505 Investment and other income 717 1,027 899 925 604 Earnings per share (restated) 3.12 4.15 4.84 4.48 1.89 Cash dividend per share 2.5 2.5 2.5 1.5 --- Bonus share 25% 15% 10% 15% --- Share price at 31 December 66.5 90.6 82 85 67 Operating Free Cash Flow growth in QAR million Total Assets in QAR million CAGR 55% 1,966 1,471 CAGR 37% 23,673 28,715 32,629 254 442 755 11,633 16,332 2012 2013 2014 2015 2016 2013 2014 2015 2016 2017 H1 14
AND SHAREHOLDER VALUE CREATION Dividends in QAR Return on Equity % Pay-out ratio 66% 85% 64% 62% 70% 2.00 2.50 1.50 1.00 2.50 2.50 2.50 2.50 1.50 1.50 17.5 17.1 18.4 18.1 14.7 12.4 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2017 H 1 Dividend per share Bonus per share QIC shares outperformed QE Index and QE Insurance index Market Value in QAR million 8,541 14,545 15,139 5,187 5,705 5,812 20,449 18,691 8,236 8,161 2013 2014 2015 2016 2017 H 1 Market Cap Book Value 15
CONSISTENT UNDERWRITING PERFORMANCE Gross Premiums In QAR million Net Underwriting Results In QAR million CAGR 40% CAGR 25% 2,559 3,532 5,614 8,347 9,901 343 484 664 926 844 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Combined ratio 93% 98% 95% 98% 102% 2017 H 1 102% 2016 98% 2015 95% 72% 69% 67% 22% 21% 17% 8% 8% 11% 2014 98% 65% 17% 16% 2013 2014 2015 2016 2017 H1 2013 93% 65% 11% 18% Combined ratio Loss ratio Expense Ratio Acquisition cost 16
WELL DIVERSIFIED PORTFOLIO ENHANCES CAPITAL EFFICIENCY Gross premiums, split by region 2017 H1 Gross premiums, split by line of business 2017 H1 International 71% Domestic 16% Regional 13% Credit & Surety 2% Marine & Aviation 10% Agriculture 2% Energy 5% Liability 5% Property 23% Motor 37% Health & Life 14% Superior geographical and product diversification translates into high capital efficiency QIC is the only MENA composite insurer with a sizeable international footprint: Qatar Re, Antares and QIC Europe account for 71% of QIC s total GWP in 2017 H1 Motor business generates 37% of the total GWP European and Asian business poised for particularly strong growth (based on newly established QIC Europe and Singapore offices of Qatar Re and Antares) 17
STRONG TECHNICAL PERFORMANCE IN A HIGHLY COMPETITIVE ENVIRONMENT in QAR million Marine and Aviation 2015 2016 Gross premium 943 1,171 Underwriting Results 140 118 Loss ratio 62% 65% 24% (16%) Operating profit 14.9% 10.1% in QAR million Property & Casualty 2015 2016 Gross premium 6,489 7,471 Gross premium Underwriting Results 2015 2016 2015 2016 15% (10%) Underwriting Results 694 624 Loss ratio 65% 66% Operating profit 10.7% 8.4% in QAR million Life & Medical 2015 2016 Gross premium 915 1,259 Gross premium 2015 2016 38% Underwriting Results 2015 2016 15% Underwriting Results 82 94 Loss ratio 79% 86% Operating profit 9% 7% Gross premium 2015 2016 Underwriting Results 2015 2016 18
8,283 717 9,567 1,027 11,424 899 925 604 15,411 17,466 At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix STRONG INVESTMENT YIELD DESPITE LOW INTEREST RATE ENVIRONMENT Invested Assets versus investment income in QAR million Investment versus underwriting income 17,500 13,500 9,500 5,500 1,500-2,500 2013 2014 2015 2016 2017 HI 60% 61% 54% 52% 70% 40% 39% 46% 48% 30% 2013 2014 2015 2016 2017 H 1 Invested Assets Investment income Underwriting income Investment income Investment portfolio composition 2017 H 1 Private Equity & Funds 8% Real Estate 3% Equity 5% Bonds 45% Cash 39% 19
FOCUS ON SECTOR BALANCE AND SECURITY OF INVESTMENTS Equity: Industry exposure 4% 4% 3% 1% Financial 5% 10% 11% 51% 11% Utilities Basic Materials Industrial Consumer, Cyclical Energy Communications Consumer, Non-cyclical Diversified Equity: Currency exposure 4% 2% 1% 4% 89% QAR SAR OMR KWD AED USD Fixed income: Rating 24% 3% 2% Fixed income: Geographic mix 3% 1% 10% 12% 29% Fixed income: Mix by sector 4% 3% 2% 5% 9% 54% 71% A- & Above BBB- to BBB+ Not Rated Below BBB- 18% ME-ex Qatar Europe Asia Africa 27% Qatar North America Australia LATAM 23% Financial Others Communications Energy Government Utilities Basic Materials Consumer Non-Cyclical 20
717 604 1,190 1,027 899 925 859 1,678 1,809 1,754 At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix HEALTHY INCOME EMANATING FROM QIC ASSET MANAGEMENT Contribution of investment income in % and QAR million Advisory fee income in QAR million 2,400 1,800 59.2% 61.2% 49.0% 52.0% 70% 70.0% 60.0% 50.0% 104.8 110.4 123.1 1,200 600 40.0% 30.0% 20.0% 51.3 0 2013 2014 2015 2016 2017 H1 10.0% 0.0% 4.7 2013 2014 2015 2016 2017 H 1 Total income Investment income QIC Asset Management consistently contributes about 70% to the Group s total income Third party asset management has become a growing and sizable source of income Efficient treasury function managing the liquidity and balance sheet assets and liabilities Function provides efficient asset and risk diversification to the Group s balance sheet 21
EXCELLENT FINANCIAL STRENGTH RATIOS Assets % 2013 2014 2015 2016 Invested assets to total assets 71% 59% 62% 67% Invested assets to net technical reserves 339% 188% 119% 139% Cash and bank deposits to net technical reserves 137% 52% 37% 63% Solvency: Increased capital utilization, ratio remains strong 2013 2014 2015 2016 Eligible Capital 5,688 6,071 7,217 8,066 Solvency Ratio 133% 121% 115% 134% 133% 121% 115% 134% 2013 2014 2015 2016 Solvency Ratio 22
STRONG FINANCIAL STRENGTH Financial strength rating for QIC Rating: A / Stable Outlook: Stable o We view QIC as an increasingly diversified insurance group with relatively mature operations in the still-growing Gulf Cooperation Council region, and with rapidly expanding reinsurance operations in Europe. Rating: A / (Excellent) Outlook: Stable o The ratings for Qatar Insurance Company S.A.Q. (QIC) reflect its very strong risk-adjusted capitalisation, robust underwriting performance and global business diversification. QIC Group equity in QAR million 2015 2016 2017 H 1 Share capital 1,846.21 2,411.39 2773.09 Legal reserve and Share Premium 1,514.14 3145.62 3250.47 General reserve 287.00 287.00 287.00 Catastrophe special reserve 277.34 329.53 381.23 Fair value reserve 139.20 110.87 (109.65) Retained earnings 1,748.39 1,951.70 1579.60 Equity attributable to parent 5,812.28 8,236.11 8161.74 Non-controlling interest 181.79 232.11 243.14 Total equity 5,994.07 8,468.22 8404.88 23
Organisation 24
STRONG GEOGRAPHIC AND SECTOR DIVERSIFICATION Group level Operations LOG IN JOIN HOME ABOUT US PRODUCTS QATAR RE HUBS NEWS & MEDIA CONTACT US Direct Insurance: Reinsurance: Specialty Re/insurance: Life and Medical: Asset management: Sector Personal Lines Commercial Lines Property & Casualty Commercial Lines Medical Lines W E ARE COM M I TTED TO BUI LDI N G TH E FI Life RST Lines Facultative Lines GLOBAL REI N SURANCE FRANCH I SE, BASED ON EM ERGI NG M ARKET CAPI TAL Proprietary and TP asset management Geography Qatar GCC Europe GUNTHER SAACKE Chief Executive Of cer Global Global Qatar GCC Global 25
Risk Management 26
6. Communicating and Consulting Group Risk Steering Committees, Entity Board, Entity Risk Committee, Audit Risk Committee 7. Monitoring and Reviewing Ongoing Process At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix STRICT ADHERANCE TO CLEARLY DEFINED ERM PROCEDURES Risk Management at QIC Enterprise risk management cycle o ERM is broken down into Risk Management, Capital Management and Exposure monitoring o o o o o o o o Governance structure follows the three lines of defence model with dedicated Risk Committees in each entity of the company Each entity committee reports into the group s risk steering committee, which reports to the Group s Board and Audit committee Risks are monitored and maintained according to risk categories such as insurance, market, credit, operational and group Each risk is assessed for impact and probability along with the controls in place to mitigate Risk are reviewed quarterly QIC has in place a full-blown stress and scenario testing framework QIC conducts analysis into emerging risks Risk appetite and tolerance set at the group and entity level with the position against these metrics monitored on an on-going basis 1. Establishing Goals: Risk Appetite & Tolerance statement, Strategy & Business Plan for the year 2. Identifying Risks: Risk Registers 3. Analyzing Risks: Risk Score 4. Prioritizing Risks: Risk Prioritization Matrix 5. Risk Mitigation: Control Analysis 27
Outlook 28
ASPIRING TO BECOME A GLOBAL TOP 50 COMPOSITE INSURER Well-diversified business mix Balanced geographical mix Distinct sources of income Credit & Surety 9% Marine & Aviation 12% Agriculture 2% Energy 5% Liability 8% Property 13% Motor 38% Health & Life 13% A portfolio of powerful franchises International 70% Domestic 17% Regional 13% Re/ Insurance 48% Third party Asset Management 3% Investments 49% SEARCH LOG IN JOIN Continue to capitalize on transactional opportunities Grow QIC Europe Expand into Asia / Pacific on the back of Qatar and Antares Further grow medical and life lines in the domestic and regional market HOME ABOUT US PRODUCTS QATAR RE HUBS NEWS & MEDIA CONTACT US QIC Europe Ltd: Become a common platform for QIC s entrée into the European insurance markets Use synergies with Qatar Re in reinsurance and Antares in specialty insurance W E ARE COM M I TTED TO BUI LDI N G TH E FI RST GLOBAL REI N SURANCE FRANCH I SE, BASED ON EM ERGI NG M ARKET CAPI TAL Qatar Re: Leverage acknowledged market and product expertise to expand on a global scale, broaden product offering GUNTHER SAACKE Antares: Capitalize Chief on Executive Lloyd s Of cer expansion and leverage synergies with Qatar Re Further build 3 rd party investment capabilities Continue to generate investment income above index and peers 29
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PROFIT AND LOSS ACCOUNT, 2013 2017 H 1 Income Statement (QAR 000) 2013 2014 2015 2016 Growth ( YOY) CAGR 2017 H 1 Gross Written Premium 3,531,707 5,613,767 8,347,210 9,901,394 19% 40% 6,239,181 Net earned premium 1,974,085 3,678,344 5,787,173 8,359,887 44% 54% 4,081,465 Net claims incurred (1,280,266) (2,394,403) (3,862,113) (5,761,487) 49% 54% (2,925,698) Net commission (211,301) (620,093) (999,317) (1,754,717) 76% 92% (892,952) Net underwriting income 482,518 663,848 925,743 843,683-9% 25% 262,815 Investment and Other Income 719,622 1,027,488 898,596 924,851 3% 14% 604,210 G&A Expenses (423,783) (665,926) (760,350) (716,956) -6% 27% (347,690) Net profit 778,357 1,025,410 1,063,989 1,051,578-1% 14% 504,904 31
BALANCE SHEET, 2013 2017 H 1 Balance Sheet (QAR 000) 2013 2014 2015 2016 2017 H 1 ASSETS Cash and cash equivalents 3,351,905 2,646,907 3,518,760 6,962,310 8,173,539 Insurance and other receivables 1,164,615 2,820,028 6,481,460 6,652,577 8,212,521 Reinsurance contract assets 2,151,318 1,238,857 2,128,405 2,493,439 2,926,077 Investments 4,543,881 8,792,683 10,676,748 11,573,906 12,280,399 Investment properties 387,197 375,070 407,988 575,818 574,182 Property and equipment 33,592 38,665 41,406 40,300 45,747 Goodwill and Intangible assets -- 420,006 418,560 417,114 416,391 TOTAL ASSETS 11,632,508 16,332,216 23,673,327 28,715,464 32,628,856 Liabilities Term borrowings 746,200 2,429,536 3,543,243 4,192,507 3,929,288 Insurance contract liabilities 4,594,615 6,318,414 11,768,077 13,583,283 15,649,644 Provisions, reinsurance and other payables 910,005 1,660,759 2,367,934 2,471,451 3,025,760 Total liabilities 6,250,820 10,408,709 17,679,254 20,247,241 22,604,692 Equity Share capital 1,284,323 1,605,404 1,846,214 2,411,387 2,773,095 Reserves & Surplus 3,903,131 4,099,379 3,966,074 5,824,719 5,388,648 Minority interest 194,234 218,724 181,785 232,117 243,140 Total equity 5,381,688 5,923,507 5,994,073 8,468,223 8,404,883 TOTAL LIABILITIES & EQUITY 11,632,508 16,332,216 23,673,327 28,715,464 32,628,856 32
125.1 169.8 190.3 201.9 174.6 210.1 At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix QATAR: A THRIVING ECONOMY GDP and real GDP growth in USD billion* Hydrocarbon vs. Non-hydrocarbon sectors in GDP* 250 22.00% 200 150 100 50 0 19.6% 13.4% 4.9% 4.7% 4.6% 4.0% 2010 2011 2012 2013 2014 2015** GDP Growth rate 18.00% 14.00% 10.00% 6.00% 2.00% 125 170 190 202 210 47% 42% 43% 46% 49% 53% 58% 57% 54% 51% 2010 2011 2012 2013 2014 *Source: IMF 2015, ** Projections Strong fundamentals Budget surplus 9.1% per annum over the past 5 years Highest credit rating in the GCC S&P: AA; Fitch: AA; Moody s: Aa2 Strong population growth Tripled since 2003, 2.6 million in 20162.8 million by 2020 World s highest GDP per capita USD 145,000 in 2014 *Source: QNB Qatar Economic Insight, 2015 Diversifying the economy Hydrocarbon reserves USD 25 trillion World largest exporter of LNG 77 million tonnes per annum Investments into infrastructure USD 150 billion by 2020 National Rail Project USD 40 billion 33
Premiums as % of GDP At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix QATAR S GROWING INSURANCE SECTOR Total premiums in USD million* Insurance Penetration 2015 2,200 1,994 1,516 1,197 878 2010 2011 2012 2013 2014 12% UK 10% Japan 8% USA 6% Germany 4% India China Bahrain 2% Oman UAE Qatar KSA Kuwait 0% 1,000 10,000 100,000 GDP per Capita (Log scale) in USD *Source: Swiss Re SIGMA Insurance regulation Source: Swiss Re, Central Bank of Bahrain, EIU Country Data via BVDep Qatar Central Bank (QCB) is the single financial regulator for financial institutions in Qatar QCB has responsibility for the design and implementation of policies relating to the regulation, control and supervision of financial services and financial markets in Qatar QCB pursues a consistent risk-based micro-prudential framework in line with global regulatory standards QIC International and QLM are regulated by the Qatar Financial Centre Regulatory Authority, which is in charge of the insurance sector regulation, reporting to the QCB 34
GLOBAL INSURANCE: POTENTIAL INTACT, THOUGH SUBDUED GROWTH Global Insurers solvency change in % Insurance Penetration in% Source: Swiss Re sigma, 2014 Source: Swiss Re sigma, 2014 Premium growth in % Insurers underwriting results and RoE in% Source: Swiss Re sigma, 2014 Source: Swiss Re sigma, 2014 35
QIC MANAGEMENT TEAM Khalifa A. Al Subaey Group President & CEO Ali Saleh Al Fadala Sr. Deputy Group President & CEO Salem Al-Mannai Deputy Group President & CEO-Mena Region Ahmed El Tabbakh SVP Group Finance and Advisor to the Group President & CEO Sunil Talwar Group CEO - International P.E. Alexander Advisor to the Group President & CEO Gunther Saacke CEO - Qatar Re Varghese David Group Chief Financial Officer Stephen Redmond Managing Director-Antares Sandeep Nanda Group Chief Investment Officer Mark Graham Group Chief Risk Officer Navin Kumar CEO-OQIC Hassan H. Al Jaidah CEO-KQIC Andy Ross CEO-QEL Ilango T. COO-UAE Operations 36
QIC BOARD OF DIRECTORS AND MAJOR SHAREHOLDERS QIC shareholders in % Sheikh Khalid bin Mohammed bin Ali Al-Thani Chairman & Managing Director Abdullah bin Khalifa Al-Attiya Deputy Chairman o Government of 13.92% Qatar o Qatari Royal 13.71% Family and Associates Hussain Ibrahim Al-Fardan Board Member Jassim Mohammed Al-Jaidah Board Member Sheikh Hamad bin Faisal bin Thani Al Thani Board Member o Foreign 9.53% Institutional Investors o Free Float Remainder Khalaf Ahmed Al-Mannal Board Member Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani Board Member Sheikh Faisal bin Thani bin Faisal Al-Thani Board Member Sheikh Saoud bin Khalid bin Hamad Al Thani Board Member Khalifa A. Al Subaey Group President & CEO The shareholders in its AGM held on 19 th Feb 2017 appointed 2 additional directors : 1. Sheikh Abdulrahman bin Saud bin Fahad Al Thani 2. Ali Youssef Hussein Ali Kamal 37
THANK YOU 38