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General Assembly Meetings

Agenda of the Ordinary and Extraordinary General Assembly 17/02/2014

Ordinary and Extra Ordinary General Assembly Meeting,Feb,17th ,2014


Be the leading, most customer-focused and successful Insurance company in the region



Our Shareholders

To create outstanding value by maximizing returns

Our Customers

To provide our policyholders with as near perfect protection, as near perfect service as is humanly possible and to do so at the lowest possible cost

Our Employees

To be an employer of choice, offering an exciting environment that values and rewards its people.

Our Community

To actively contribute to the growth and vitality of the community.



- Integrity and Transparency.

- Passion for Excellence.

- Customer Centric.

- Nurturing Staff.

- Innovation.

Doha Insurance Company Q.S.C is a Qatari shareholding company registered an incorporated in the state of Qatar under Emiri Decree No. 30 issued on 2nd October 1999, listed on Qatar Exchange, and is engaged in the business of insurance and re-insurance.


The Company was formed in response to the need for growth in the insurance industry, warranted by unprecedented accelerated economic expansion in Qatar as well as the enactment of laws encouraging investments.


During 2006, the Company established an Islamic Takaful branch under the brand name "Doha Takaful" to carry out insurance and reinsurance activities in accordance with Islamic Sharia principles on a non-usury basis in all areas of insurance.


Supported by highly motivated and well qualified team, Doha Insurance is now poised to play a major role in the Regional and Arab insurance industry.


Equity Capital


Doha Insurance was founded by 553 members, who are either prominent Qatari businessmen or present prestigious Qatari business entities. Formed with a fully paid-up capital QR 127 million (US $ 35 million), Doha Insurance was listed on Doha Securities Market in December 2001 and presently has more than 2000 shareholders.


The capital based of the company has been increased to QR 180 million (US $ 50 million) through the right issue in April 2008 and again raised to QR 234 million (US $ million) through issue of bonus shares in March 2012.


Doha Insurance Ratings Raised to 'BBB+/Stable/--'


on 23 June 2009, Standard & Poor's Rating Services raised its long-term counterparty credit and insurer financial strength ratings on Doha Insurance to 'BBB+' from 'BBB'. The outlook is stable.


on 28 September 2012, Standard & Poor's Rating reaffirmed their interactive credit ratings of 'BBB+/Stable/--' on strong operating performance relative to peers, strong overall capitalization and good competitive position in an increasing competitive market.


Our Services


Doha Insurance aims to raise the level of professionalism in the insurance services in the State of Qatar. The Company employs well qualified and experienced insurance professionals who provide corporate and individual insurance at competitive rates for all classes of insurance. Doha Insurance is dedicated to quality of tailored customer service and mutual trust. claims processing functions are streamlined to provide customers with fair and timely settlements. Company wins of some major property and construction accounts evidences this.


Our Senior Executives


Doha Insurance is an expanding company supported by highly motivated and well qualified senior executives. The team enjoys a wealth of professional qualification, exposure and expertise in GCC, Arab and International Markets.

Al Salamu alaikum and a warm welcome to our website.

The Board of Directors of Doha Insurance Company is pleased to present its fourteenth annual report on the Company’s activities and financial status in the fiscal year ended 31/12/2014, as well as Company Future Plan for 2015.


-              The Company continued its persistent and relentless efforts in order to maintain its unique position it attained during 2013, and in 2014 it has been able to increase its share in the local market and to maintain continuous profitability and growth through establishment of solid and long-term relationships that made the Company able to keep a balanced insurance portfolio.


Premiums went up from QR 517m in 2013 to QR 534m in 2014, an increase of 3%. The Company’s management expected bigger increase in the premiums in 2014, however, putting forward some mega projects in the State of Qatar, which were expected to be launched in 2014, have been delayed, while the establishment of the National Health Insurance Company has totally taken over the insurance of Qatari citizens had its negative effect, and competition among insurance companies became more intense in terms of premium rates prevailing in the Qatari market.


-              The Company has successfully completed the subscription process in the capital increase during the period from 17/03/2014 to 07/04/2014, whereas 24.260.000 new shares have been issued for subscription, to the tune of QR 18 for each share, inclusive of the nominal value of the share plus issue premium. This has enabled the Company to collect QR 436.6 m from issuing the equity shares for the present shareholders. Thus, the Company capital is put now at QR 500 m, and the shareholders, equity is almost doubled.


The company has sought, through increase of the capital, to support and improve the credit rating and enhance its financial portfolio, tobe qualified to increase its competitive edge in obtaining insurance of the Mega projects in the State of Qatar and abroad, which, in turn, would avail it the opportunity to secure a bigger portion of premiums and to improve the returns of technical profits.


-              On 14/07/2014, the global rating agency, Standard & Poor’s declared raising the credit rating of Doha Insurance Company to level “A-“, from level “BBB+”, thanks to the improvement in the depth of capital and a favorable future perspective. It is a rating generally being awarded by this global agency upon conducting a thorough and strict inspection of a company’s financial and administrative performance. This matter substantiates the Company’s strong financial position and its ability to fulfill such consequential obligations.


On the other hand, the Global rating agency, A.M. Best, an international company specialized only in rating insurance companies, granted the Company on 26/08/2014 the rate of “A-“ (Excellent) with a stable future perspective, which reflects the strong position of the Company’s risk-adjusted capitalisation


In any cases, such raise in the Company’s credit rating was a culmination of the distinguished financial and capitalisation positions. The staff of the Company proved they have cumulative super expertise that has boosted capabilities of the Company’s technical performance and enabled the Company to gain advanced credit ratings from recognized global rating agencies.


-              In achievement of its policy to expand regionally and internationally, the Company has obtained the initial consent from Qatar Central Bank to establish a new company in Dubai International Financial Centre (DIFC), for the purposes of dealing in the business of subscribing in reinsurance, especially in the insurance of properties and engineering projects, as well as liability insurance outside Qatar.


Procedures for registering the new company with DIFC are well underway, in coordination with renowned global attorney and technical advisor offices. The trade name shall be Mena Re Underwriters Ltd (Mena Re). The company is expected to launch its business after completing recruitment of the technical staff, during the first half of 2015.



Following is a summary of the key financial results achieved in 2014 compared to 2013:


(1)    Net return of the technical department on the insurance activity amounted to QR 84.9 m, compared to QR 72.2 m in 2013.


(2)    The return of investment on local shares, bank interests and other revenues amounted to QR 61.5m, compared to QR 49.9 m in 2013.


(3)    The Company achieved a net consolidated  profit of QR 77m, including the Company’s Islamic Insurance Branch “Doha Takaful”, compared to QR 67 m in 2013.


(4)    Total of the shareholders equity amounted to QR 1,075m, compared to 548 m in 2013.


Future Plan:


1)      The Company will proceed with its efforts to enter into regional and international business alliances with the view to supply its insurance portfolio and to inject additional premiums to boost continued profit increase and development of the Company.


2)      The Company plans to develop a “Risk Management Committee” to determine, monitor and control the major risks that could affect the Company’s business and shall be responsible for taking the appropriate actions to minimize severities; i.e. risks of insurance activity, operation risksand risks of credit and investment.


3)      The Management plans to conduct a complete study on the establishment of a legal entity wholly owned by the Company, to assume management of the Company’s investment portfolio and other assets owned by the Company. 




Nawaf Nasser Bin Khaled Al-Thani

Chairman of the Board of Directors.



Our Current Board of Directors

Chairman: Sheikh Nawaf Bin Nasser Bin Khaled Al-Thani
Vice Chairman: Sheikh Khalifa Bin Jassem Mohamed Bin Jassem Al Thani
Managing Director: Mr. Adel Ali Bin Ali


General Dahlan Jamaan Basher Al-Hamad
Sheikh Jaber Bin Hamad Bin Jassem Bin Jaber Al Thani
Mr. Victor Nazeem Redha Agha
Mr. Hitmi Bin Ali Al-Hitmi
Sheikh Ali Bin Nasser Bin Abdullah Al Ahmed Al Thani
Mr. Hassan Jassem Darwish Fakhroo
Mr. Saud Omer Hamad Abdullah Al Mana
Mr. Hussam Abdul Salam Mohamed Abu Essa
CEO: Mr. Bassam Hussein

Yacht Insurance

Do not allow any of your plans to get washed away due to any unforeseen event anymore. Once you partner with us, you sail your way smoothly into the wide ocean enjoying a relaxing time cruising along the coast with your friends & family!

With Yacht Insurance offered to you by the most reputable company in the industry you no longer need to worry about any storm in the sea as Doha Takaful is here to take care of all your apprehensions associated with any tragedy or misfortune that may occur to your yacht and its belonging amidst a rough sea.

We offer a customized plan to you that allow you to sail with Doha Takaful in the most stressed free manner, while you get entitled to complete coverage against any damage or loss caused to boat, machinery and trailer, theft either at sea, kept on land, whilst moored, or in transit.

There are number of options you may discuss with our experts anytime that have been designed carefully to meet your needs and budget. Some of the options we offer to you include:

  • Comprehensive Cover
  • Third Party Liability Only
  • Personal Accident

Corporate Governance

Governance Charter
Company Governance Report Year 2011
Company Governance Report Year 2012
Company Governance Report Year 2013
Company Governance Report Year 2014
Company Governance Report Year 2015


At present time there are various insurance companies around the globe that are usually sticking to their long-standing company cultures, where Doha Takaful feels there are certain values that are too significant to be disregarded or ignored and this includes, providing the most superior quality services to our valuable clients at the time they need us the most to stand by their side and relieve their worries.

At Doha Takaful, our philosophy is treating our clients the same way as how we would like to be treated as at the time of an unfortunate event. These times are definitely extremely distressing and there is already a lot one has to go through, which makes us more considerate to ease whatever little we can to our clients.

Our key values in this regard includes

  • Sympathy
  • Ethics
  • Justice
  • Promptness

All these values are incorporated to the core in our processes, which makes us far more thoughtful and sensitive to our clients needs than anyone else in the industry.

Hence, our clients are highly encouraged to report any claim to us as quickly as possible in order to allow us to take care of the rest in the most professional, efficient and fair manner.

Doha Takaful

248, C-Ring Road, P. O. Box 7171, Doha-Qatar Phone: (+974) 44292777 Fax: (+974) 44660093
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