Feb 28 2013
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QGIR expanding operations in region
"The company is developing insurance operations in the region by investing strategically in regional insurance companies" in view of the increased competition from companies that recently entered into domestic insurance market through Qatar Financial Centre, QGIR chairman Sheikh Nasser bin Ali bin Saud al-Thani said.
Addressing the annual general assembly, he said its plan includes the development and modernisation of the various insurance products, providing excellent customer service by expanding the local network and creating "strategic" partnerships with leading insurance companies.
The general assembly approved the 10% cash dividend and 15% stock bonus for 2012.
About its investments, he said the company has adopted an expansion strategy outside Qatar in the insurance, banking and realty fields to enhance its position regionally.
Having invested in Syria, Algeria, Libya, Oman and Saudi Arabia, QGIR said it would continue to provide technical and administrative support to its regional investee companies and improve the strategic alliances to benefit from the economic boom in the region.
QGIR board outlines its expansion strategy in Doha yesterday.
© Gulf Times 2013
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