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The General Assembly of Qatar General Insurance Endorses Items
on Its Agenda
April 16, 2019
Qatar General Insurance & Reinsurance Co. announces the convention
of its Ordinary and Extraordinary General Assembly meetings
consecutively on Monday 15th April 2019 at 6:30PM at Marriott
Hotel (Doha) – Ras Abu Abboud.
During the Ordinary and Extraordinary General Assembly Meetings, the
following items of the agenda were adopted:
Resolutions of the Ordinary General Assembly:
1.
Shareholders’ General Assembly approved by majority the Board of
Director’s Report on the Company’s activities and its financial
position for the financial year ended 31/12/ 2018 as well as the
Company’s future plan.
2.
Shareholders’ General Assembly approved by majority the External
Auditor’s Report for the financial year ended 31/12/ 2018.
3.
Shareholders’ General Assembly approved by majority the
Company’s Balance Sheet, profit & loss accounts for the
financial year ended 31/12/2018, after deducting an amount of QR
/500,000,000/ (Five Hundred Million Qatari Riyals) from the
Retained Earnings Account and allocating such amount to a
special reserve account named “Risk Reserve” (which cannot be
disposed of without the approval of Qatar Central Bank), in
compliance with Qatar Central Bank’s instructions as a hedging
against any risks.
4.
Shareholders’ General Assembly unanimously approved the Board of
Director’s proposal to distribute cash dividends to the
Shareholders for the financial year 2018 at the rate of (10%) of
the nominal value of the share (equivalent to QR /1/ per share).
5.
Shareholders’ General Assembly unanimously approved releasing
the Chairman and members of the Board of Directors from
liability for the financial year 31/12/2018, and approved their
remuneration.
6.
Shareholders’ General Assembly unanimously approved the
appointment of Messrs. KPMG, as the Company’s External Auditors
for the financial year 2019 with fees of QR /850,000/.
7.
Shareholders’ General Assembly approved and adopted by majority
the Company’s Corporate Governance Report for the year 2018.
8.
Shareholders’ General Assembly unanimously approved the
Nomination and Election Regulations for the Board membership and
delegated the Company’s Board of Directors to incorporate any
required amendments on such document in alignment with the
instructions, circulars, regulations and laws issued from time
to time by the relevant Competent Authorities and to always
publish the amended versions on the Company’s Website.
To view the EGM Resolutions,
click here
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