(The Group’s Comment) Qatar General Insurance & Reinsurance Company Net Profit Declines by 88% to QAR 8.10 million in the 3^rd Quarter 2019

Ø Profit: The Company’s profits for the 9 months ended 30 September 2019 recorded a decline of 88.5% reaching QAR 8.11 million versus QAR 70.76 million for the same period 2018. Earnings per share amounted QAR 0.009 compared to QAR 0.081. However, the 3^rd quarter results has recorded losses of QAR 14.93 million compared to net profit of QAR 16.73 million for the same period last year 2018.

Ø Operating Profit (Insurance Underwriting results): Gains from the Company’s insurance activities for the period amounted QAR 42.79 million versus QAR 63.25 million declining by 32.3% caused by the increased paid claims by nearly QAR 100 million and increased claims made by reinsurers by nearly QAR 93 million.

Ø Investment Profits: The Company’s profits from the investment activity at the end of the 9 months recorded a decline of 11% to reach QAR 161.35 million versus QAR 180.53 million for the same period last year 2018. Such decline is caused by the decline in the revenues from rental and Company’s recording a loss in the fair value by QAR 900 thousand versus a profit in the same item of last year financials by QAR 18.0 million.

Ø Expenses: amounted as of the end of the period QAR 198.71 compared to QAR 187.23 million where the cost of financing has increased by QAR 17.5 million.

Ø The company has recorded losses from results of associate companies by nearly QAR 513 thousand versus profit for the equivalent period last year by QAR 9.48 million.

Ø Total Comprehensive Income: The Company recorded profits in the comprehensive income statement by QAR 26.20 million versus QAR 63.43 million for the same period last year 2018.