close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

State fund Qatar holding looks to raise stake in Qatar insurance

Qatar Shell-Seimens

Qatar Holding, a unit of the Gulf Arab state's sovereign wealth fund, is in talks to increase its stake in Qatar Insurance Co (QIC) through the purchase of new shares in the firm, the insurer said on Tuesday.

0

August 7, 2012 3:37 by



Qatar Holding, a unit of the Gulf Arab state’s sovereign wealth fund, is in talks to increase its stake in Qatar Insurance Co (QIC) through the purchase of new shares in the firm, the insurer said on Tuesday.

Qatar, the world’s biggest exporter of liquefied natural gas, currently owns 12 percent of QIC, according to Thomson Reuters data.

QIC said it had received an offer from “strategic partner” Qatar Holding. No financial details were given.

“The board of directors of QIC welcomed the offer and agreed to the signing of a memorandum of understanding, which includes determining the required number and price per share (nominal value and issue premium),” QIC said in a filing to the Qatar bourse, adding any deal needs regulatory approval.

Qatar Holding has made a number of high-profile foreign investments this year, most notably building an 11.03 percent stake in miner Xstrata, a $26 billion takeover target for commodities trader Glencore.

Shares in Qatar Insurance were up 2.7 percent at 0730 GMT, against a 0.07 percent rise for the main Qatar index.

An increased stake for the Qatari government will bolster the insurer’s profile but the new share issue will dilute existing shareholders’ positions.

(Reporting by David French; Editing by Amran Abocar)



0

Tags: , , ,

Leave a Comment