Qatar Insurance Board Approves Transfer of
QLM under Ministry of Economy & Commerce
April 25, 2018
Qatar Insurance Company’s Board of Directors
has approved to transfer Qatar Life & Medical Insurance (QLM), a
subsidiary of the group and registered in the Qatar Financial
Center, to be registered under the Ministry of Economy &
Commerce. The new company will be established as a Limited
Liability Company, fully owned by Qatar Insurance Company. All
assets & liabilities shall be transferred from the old company
(QLM), which is currently in termination stage with Qatar
Financial Center. These procedures has been approved by Qatar
Central Bank.
The Board has approved to offer the Minority
owners in QIC capital an offer to acquire their share by
replacing these shares with shares in Qatar Insurance Company.
These shares will be issued for this purpose only and they will
get the right to subscribe in these shares. This offer mechanism
is subject to the regulatory and supervisory bodies approvals.
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