AlKhaleej Takaful Insurance BBB+

HE Sheikh / Saud bin Abdullah Bin Mohammed Jabor Al-Thani - CEO, announce that S&P Global Ratings has upgraded the long-term credit rating of Al-Khaleej Takaful Insurancefrom BBB to BBB+ with a stable outlook READ MORE

 

INSURANCE SURPLUS 2016

H.E Shk. Saoud Abdulla Moh'd J. Al-Thani - CEO of Alkhaleej Takaful Insurance Company announced that the company has obtained the final approvals from the Fatwa and Shari'a Supervisory Board and the Central Bank of Qatar to distribute insurance surplus to the participants for the year 2016, READ MORE

 

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AL-KHALEEJ TAKAFUL TO DISCLOSE ITS 1ST QUARTER FINANCIAL STATEMENTS ON APRIL 27, 2017

Al-khaleej Takaful Group announces its intent to disclose its first quarter Financial Statements results for the year 2017 on Thursday 27 April, 2017. 

AL-KHALEEJ TAKAFUL HOLDS ITS AGM AND EGM ON 5/4/2017 AND ANNOUNCES THE AGENDA

Al-khaleej Takaful Group announces that the Ordinary and Extraordinary General Assembly Meeting that will be conducted on 5/4/2017 to look in:
 
The Agenda of the Ordinary General Assembly Meeting:
 
1 - Hearing Board of Director’s Report about the company’s activities and financial position for the year ending 31.12.2016 and the future plan of the company.
2 -  Hearing Auditors Report about company’s financial statements for the year ending 31.12.2016.
3 - Hearing the Sharia’s Authority Report on the activities for the financial year 2016.
4 - Discussing and approving the balance sheet of the company and accounts of profits & losses for the fiscal year ending 31.12.2016 and approving the BOD recommendation to distribute 6% cash dividends to shareholders.
5 - Discharging the BOD of the responsibility of fiscal year 2016 & determining their remuneration.
6 - Discussing the governance report of the company for the year 2016.
7 - Appointing the External Auditor for the year 2017 & determining their fees.
8-  Appointing the Sharia’s Authority for the year 2017 & determining their fees.
9 - Approve transaction with related parties.
10- Election of Board Members for 3 Years 2017 – 2018 – 2019.
 
 
The Agenda of the Extra-Ordinary 
 
 
 
1-  Amended the Company’s introductory paragraph of Association which is:
 
Al Khaleej Insurance Company (Q.S.C.) has been established under the provisions of law No. 3 of 1961, organizing shareholding companies. Its status and Memorandum of Association has been amended as per law No. 11 of 1981, by enacting Commercial Companies Law and amendments thereto. Its status and Memorandum of Association has been amended in accordance with the provisions of Commercial Companies Law issued by law No. 5 of 2002, subject to the following provisions. Its status and Memorandum of Association has been amended in accordance with provision of commercial company’s law No. 11 of 2015 and with law No. 13 of 2012 on Qatar Central Bank and the regulation of financial institution and the Extra ordinary resolutions up to March 2016.
  To be read as the following:
Al Khaleej Insurance Company (Q.S.C.) has been established under the provisions of law   No. 3 of 1961, organizing shareholding companies. Its status and Memorandum of Association has been amended as per law No. 11 of 1981, by enacting Commercial Companies Law and amendments thereto. Its status and Memorandum of Association has been amended in accordance with the provisions of Commercial Companies Law issued by law No. 5 of 2002, subject to the following provisions. Its status and Memorandum of Association has been amended in accordance with provision of commercial companies law No. 11 of 2015 and with law No. 13 of 2012 on Qatar Central Bank and the regulation of financial institution and the Extra ordinary resolutions  up to April 2017.
 Without prejudice to the provisions of commercial companies law No. 11 of 2015 which are applied to financial services offered by the company as well as the Fatwa & Sharia Supervisory authority and also in case of merging or liquidation of the company, the provision of law No. 13 of 2012 on Qatar Central Bank and the regulation of financial institutions will be implemented.
 
2- Amend the Article 23 of the Association which is:
The Company shall be run by Board of Directors to be composed of 10 members erected by the Ordinary General Assembly through confidential voting 
To be read as:
The Company shall be run by Board of Directors to be composed of 9 members erected by the Ordinary General Assembly through confidential voting.
 
3- Amend the current Name of the Company from:
 Alkhaleej Takaful Group To Alkhaleej Takaful Insurance.

Al-Khaleej Takaful Group Rated to BBB+

HE Sheikh / Saud bin Abdullah Bin Mohammed Jabor Al-Thani - CEO, announce that S&P Global Ratings has upgraded the long-term credit rating of Al-Khaleej Takaful Group from BBB to BBB + with a stable outlook.

 

This upgrade comes after the great improvement in operating performance, as well as technical profitability during the past two years, as a result of the positive changes in underwriting and claims procedures in the company.

CEO, also said that the company will continue the implementation of its plan to raise the improved operational performance, and the gradual reduction of the risk of assets & liabilities portfolio through the reclassification of restructuring the portfolio lines according to the recommendations of the rating agency , and regulators instructions to achieve stable returns for shareholders, Especially that this upgrade was based on diversifying of company high risk assets portfolio  and maintaining their capital adequacy ratio higher than the AAA level.

 

Auction for Injured Cars

Al Khaleej Takaful Group Annouces the auction for Injured cars as per below :

Date:01 Apr 2017 Saturday

Venue : Industrial Area, Street No.23, Gate No. 162

Time : 7:30 AM

For more details, click CLICK HERE

 

AL-KHALEEJ TAKAFUL GROUP DISCLOSES ITS FINANCIAL STATEMENTS FOR ENDED YEAR 31/12/2016

AL-KHALEEJ TAKAFUL GROUP disclosed its financial statements for the period ended on 31.12.2016. The statements shows that the net profit is QR 13,291,290 Compared to net profit amounting to QR43,388,776 For the previous year 2015 .
 
Earnings per Share (EPS) amounted to QR 0,52 For the year ended December 31, 2016 to EPS amounted to QR 1,7 for the previous year 2015 .
The Board of Directors has recommended distribution 6% cash dividend of initial value equivalent to 

AL-KHALEEJ TAKAFUL HELD A BOARD MEETING AND SCHEDULED AN EGM FOR AMENDMENT IN THEIR ARTICLE OF ASSOCIATION

Board of Directors of Al-Khaleej Takaful held a meeting on 19/12/2016, and proposed to amend the Article of Association by changing the number of members under the Board of Directors to be eight instead of current ten members. This will be effective for the sessions during 2017 -2019.
 
This recommendation is to be approved by Qatar Central Bank and the Extraordinary General Assembly will be held on 5.4.2017.
The Ordinary & Extra-Ordinary General Assembly Meeting will be held on Wednesday 5/4/2017 at 4:30 PM at Radisson Blu Hotel – Jiwana Hall.  
  
In case the quorum is not met, an alternate meeting will be held on Wednesday 12/4/2017 at same venue and time.

Al-Khaleej Takaful Group DISCLOSES ITS FINANCIAL STATEMENTS FOR THE YEAR 2015 WITH AGM AND EGM ON 21/3/2016

Al-Khaleej Takaful Group disclosed its financial statements for the period ended on 31.12.2015. The statements shows that the net profit is QR 43.38 Million Compared to net profit  amounting to QR 74.4 Million For the same period of the previous year.
Earnings per Share (EPS)  amounted to QR 1.7 For the period ended December 31, 2015 to EPS  amounted to QR 2.91 for the same period of the previous year.
The Board of Directors has recommended dividend distribution as follows:
- 10% in cash dividend (QR 1 per share).
-The General Assembly which will be held on Monday 21 March,2016 at Radisson Blu Hotel.

THE BOARD OF DIRECTORS AT AL-KHALEEJ TAKAFUL HOLDS A MEETING ON MARCH 14, 2017 TO DISCUSS FINANCIAL STATEMENTS ENDED 31/12/2016

 
Al-khaleej Takaful Group announced that its Board of Directors will be holding a meeting on Tuesday, March 14, 2017 to discuss the financial results of the Company for the financial year ended December 31st, 2016.

 

AL-KHALEEJ TAKAFUL DISCLOSES IT’S THE 3.RD QUARTER FINANCIAL STATEMENTS FOR PERIOD ENDED 30/9/2016

Al-khaleej Takaful Group disclosed its financial statements for the period ended on 30/9/2016. The statements shows that the net profit is QR 18,601,263 Compared to net profit amounting to QR 32,216,657 For the same period of the previous year.

Earnings per Share (EPS) amounted to QR 0, 73 for the period ended September 30, 2016 compared to EPS amounted to QR 1, 26 for the same period of the previous year.

 

AL KHALEEJ TAKAFUL GROUP HOLDS ITS AGM AND EGM ON 21/03/2016

Al Khaleej Takaful announces that the Ordinary and Extra Ordinary General Assembly meeting will be held on Monday 21/03/2016 at 04:30 PM at Radisson Blu Hotel – Jiwana Hall. In case the quorum is not met, an alternate meeting will be held on Monday 28/03/2016 at same venue and time.

 

 

Alkhaleej Takaful Insurance Company is licensed and approved by the Central Bank of Qatar under the license number 5/1979

  

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