Qatar General Insurance and Reinsurance Company - 2015 ... · Qatar General Insurance & Reinsurance...

Corporate Brochure

THE TRUSTEDINSURANCE SPECIALIST

Qatar General Insurance & Reinsurance Co. S . A .Q

w w w . q g i r c o . c o m

B

01 Welcome02 Company profile03 Vision & Mission04 Board of Directors05 Financial highlights06 About the Group08 Our history10 Companies under our Group

10 General Takaful 11 General Real Estate 12 World Trade Center - Qatar

13 Our customers14 Our products

16 Energy 17 Motor 18 Engineering 19 Casualty 20 Property 21 Medical & Life 22 Marine

23 Corporate social responsibility24 Meet the team26 Our employees28 Contact us

Disclaimer

The content of this brochure is intended for general marketing purposes only and should not be relied upon by any person as being complete or accurate. Qatar General Insurance & Reinsurance Company, its employees, agents and all other representatives of Qatar General Insurance & Reinsurance Company will not be liable for any direct, indirect, special or consequential loss, or any business losses arising out of or in connection with any reliance on the content of this brochure.

This brochure complies with the local laws and practices based on our understanding as of June 2015 which may be subject to change.

© 2015 Qatar General Insurance & Reinsurance Company S.A.Q. All rights, save as expressly granted, are reserved. All content, images, information and materials are owned or licensed by QGIRCO.

Qatar General Insurance & Reinsurance Company and QGIRCO are the business names of Qatar General Insurance and Reinsurance Company S.A.Q.

Qatar General Insurance & Reinsurance Company, PO Box 4500, Doha, State of Qatar. www.qgirco.com

Table of Contents


01

Dear Reader,

When it comes to running a successful business, we understand the importance of every decision you make, especially choosing an insurance provider you can count on.

All businesses, including those with the most robust processes and knowledgeable employees, are exposed to risk from unexpected events on a daily basis. Insuring these risks with a reliable provider can safeguard a business from significant financial and reputational damage which may otherwise bring it to a standstill.

In situations like these you need to be confident that you have the support of an experienced insurance provider that will work with you 24/7 to get your business back on track as quickly as possible.

With a history spanning over 35 years in supporting businesses of all sizes in risk management and loss prevention, our team members have the industry-specific knowledge and expertise necessary to understand your current needs and predict your future ones in both local and international markets.

Our wide range of market-leading insurance products are designed to meet your exact business needs so you can be confident that your business has the right level of protection against the risks it is likely to be exposed to whilst the cover is in place.

As a local Qatari company we understand the market, its opportunities and challenges. We take the time to get to know your business so that we can offer truly individual products and services that give you the confidence and peace of mind needed to focus on what you do best.

With Qatar General Insurance & Reinsurance Company, you have the long-term support you need to succeed.

Nasser Bin Ali Bin Saud Al ThaniChairman and Managing Director

Welcome to Qatar General Insurance & Reinsurance Company


Since our establishment in 1979 we have dedicated our time and resources to collaborating with Qatar ’s business community to understand the current and future needs of the market. Now, with our in-house industry-specific expertise we provide first-to-market product solutions and loss prevention guidance to some of the largest businesses in Qatar.

Today we lead the way in innovation and education on risk management and loss prevention. Our customers come to us and stay with us because of our pioneering approach and unparalleled dedication to our customers, coupled with our ability to meet our financial obligations quickly.

Qatar General Insurance & Reinsurance Company is one of Qatar’s leading providers of insurance solutions for commercial and personal customers. We service a majority share of Qatar’s rapidly growing customer base with our wide range of products.

02

Company profile

We've been supporting businesses for over 35 years

We service 50% of the top 10 local companies in Qatar

50% 35years


WHO WE ARE

Qatar General Insurance & Reinsurance Company S.A.Q. is a publicly-listed Qatari company with a solid capital base, and we contribute to and invest in the growth of the local economy.

WHAT WE DO

We offer insurance solutions for commercial and personal customers that provide financial protection against losses caused by unforeseen events.

OUR DISTRIBUTION CHANNELS

We service our customers through a number of distribution channels and strategic partnerships. Our customers can access our products through our branches or head office, as well as through a number of reputable brokers.

OUR VISION

To be the leading provider of insurance products in Qatar through indisputable customer loyalty and solid business partnerships built on trust, respect and fairness.

OUR MISSION

To develop and distribute insurance products to the commercial and personal markets that are fit for purpose, and to advise our customers in loss prevention through support, training and technology.

03

Vision & Mission



04

Board of Directors

Sheikh Nasser Bin Ali Bin Saud Al ThaniChairman and Managing Director

Sheikh Mohammed Bin Ali Bin Saud Al ThaniDeputy Chairman

Mr. Walid Ahmed Al-SaadiBoard Member

Mr. Jamal Kamel Abu NahlBoard Member

Mr. Rashid Faisal Al-NaimiBoard Member

Mr. Mohammed Hamad Al-ManaBoard Member

Mr. Hamad Mohammed Al-ManaBoard Member

Mr. Khalifa Ali Al-KaabiBoard Member

05

Financial highlights

Revenues(Qatari Riyal)

Investment Income(Qatari Riyal)

Gross Written Premium(Qatari Riyal)

Total Assets(Qatari Riyal)

Net Profit(Qatari Riyal)

Shareholders’ Equity(Qatari Riyal)

2014

1,231 million2013

2,390 million

2014

1,001 million

2014

8,554 million2014

5,676 million

2013 2,156 million

2013 7,112 million

2014

865 million*2014

920 million2013 763 million*

2013 2,131 million

2013 4,778 million

Rated by A.M. Best

Since 2004

Financial strength rating

“A-” (excellent) since 2013

Issuer credit rating

“a-” (excellent) since 2013

Outlook for both ratings

“stable”

* Includes General Takaful business results


About the Group

Qatar General Insurance & Reinsurance Company is part of a group of companies with headquarters in Doha, whose primary functions are within the insurance and real estate industries.

Our Group comprises three main companies; Qatar General Insurance & Reinsurance Company (QGIRCO), General Takaful, and Qatar General Holding (QGH), with regional interests in a number of banking, insurance and real estate companies across the MENA region.

Qatar General Insurance & Reinsurance Company S.A.Q. is a publicly listed company on the Qatar Exchange since May 1997 and regulated by the Qatar Central Bank (QCB) and Qatar Financial Markets Authority (QFMA).

As part of a group of companies spanning the Middle East and North Africa, we have the strength and stability to meet our commitments to our customers quickly.

06Qatar General Insurance & Reinsurance Co. S . A .Q

GLOBAL PRESENCE

QATAR

07

BAHRAIN

OMAN

SYRIA

LIBYA

ALGERIA

UNITED ARAB EMIRATES

QATAR

• Qatar General Insurance & Reinsurance Company• Qatar General Holding Company• General Real Estate Company• General Takaful Company• General Tower for Real Estate Investments• General Company for Water and Beverages• Gulf Petroleum Limited• International Financial Securities• Mozoon Insurance Marketing Services• Mozoon Real Estate Company• QatariUnifiedBureauInsurance• World Trade Center - Qatar

UNITED ARAB EMIRATES

• Qatar General Insurance & Reinsurance Company

BAHRAIN

• Gulf Assist

OMAN

• Oman Reinsurance

SYRIA

• The Arab Insurance Institute• Trust Syria Insurance

LIBYA

• Trust Insurance

ALGERIA

• Trust Algeria Assurances & Reassurances• Trust Bank Algeria• Trust Investment Holding Algeria


Qatar General Insurance& Reinsurance Company

Established:

5 March 1979Country of incorporation:

QatarOwnership percentage:

100%

Qatari Unified Bureau Insurance

Established:

31 January 1999Country of incorporation:


20%

Gulf Assist

Established:

13 June 1994Country of incorporation:

BahrainOwnership percentage:

8%

World Trade Center - Qatar

Established:

17 May 1995Country of incorporation:


100%

International Financial Securities

Established:



12%Gulf Petroleum Limited

Established:



20%

Trust Investment Holding Algeria

Established:

14 December 1998Country of incorporation:

AlgeriaOwnership percentage:

20%

Trust Algeria Assurances & ReassurancesEstablished:

25 January 1995Country of incorporation:


23%

General Company for Water and Beverages

Established:

2 August 1983Country of incorporation:


60%

Trust Bank Algeria

Established:



20%

08

1979

1983 20021995

19991994 1995 1998

Ourhistory


Trust Syria Insurance

Established:

5 April 2006Country of incorporation:

SyriaOwnership percentage:

32%

Qatar General Holding Company

Established:

14 February 2008Country of incorporation:


100%

Mozoon Real Estate Company

Established:

29 July 2009Country of incorporation:


50%

General Real Estate Company

Established:

30 March 2008Country of incorporation:


100%

General Takaful Company

Established:

21 May 2008Country of incorporation:


100%

Oman Reinsurance

Established:

4 August 2008Country of incorporation:

OmanOwnership percentage:

25%

The Arab Insurance Institute

Established:


SyriaOwnership percentage:

21%

Mozoon Insurance Marketing Services

Established:

7 November 2012Country of incorporation:

Qatar

Ownership percentage:

100%

General Tower for Real Estate InvestmentsEstablished:



100%

Trust Insurance

Established:


LibyaOwnership percentage:

15%

09

2014

2006 2008 2008 2009 2012

THROUGH LOYALTY WE GROW



10

General Takaful Company S.P.C. (General Takaful) is one of the leading providers of Sharia’a compliant insurance products in Qatar for commercial and personal customer needs.

General Takaful services customers through its head office, network of branches across Qatar and bancassurance agreements and provides a diverse range of insurance products based on mutual cooperation, in accordance with Islamic principles.

General Takaful

Companies under our Group

11

Project name Location Description

General Tower Corniche Road Offices leased to Qatar Petroleum

Mozoon Towers West bay Hospitality and residential development to be operated by Marriott and Oberoi

Waterfront Tower Lusail Hospitality; Oberoi will operate the serviced apartments

Block H - Fox Hills Lusail Residential, office and retail development

Residential Development Al Wakrah Residential development

Mixed Use Development Salwa Road Hotel and commercial development

General Real Estate Company S.P.C. (GRECO) is a real estate development and management company incorporated in the State of Qatar and a wholly-owned subsidiary of Qatar General Holding Company, which in turn is a wholly-owned subsidiary of Qatar General Insurance & Reinsurance Company (QGIRCO).

GRECO is one of the leading players in the real estate market and a significant contributor to the Group.

Real Estate DevelopmentsGeneral Real Estate



12

Companies under our Group Continued

The World Trade Center - Qatar S.P.C. is part of The World Trade Centers Association that promotes and facilitates trade and investment between Qatari and international companies. Each year it plans and hosts events aimed at introducing trading partners to the Qatari market and building on the eight million strong network of World Trade Center members.

World Trade Center - Qatar

Our customer relationships are built on trust and reliability. Our customers choose us and stay with us because they appreciate the value we bring to the relationship through our in-depth industry knowledge and international expertise. What’s more, ourcustomershaveconfidenceinourfinancialstabilityandcapacitytomeetourfinancialcommitments.

Our customer retention has always been high in comparison to industrystandardsconfirmingthatwecontinuetoprovideourcustomers with the products and services they need.

We understand our customers

We understand our customers’ needs

• Exemplary service

• Expert industry guidance

• Transparentandefficientprocesses

• Prompt claims payments

We service

over half a million customers

3 out of the top 5 companies in Qatar have been serviced by us for over 30 years

13

Our role is to support our customers by providing guidance on their requirements and the products available to them. Our underwriters provide consultancy services which help our customers identify and manage their risk. We do our utmost to make sure our customers understand all their selected product features and have an adequate level of cover.



14

Products that match your industry needsWhen you choose Qatar General Insurance & Reinsurance Company as your insurance provider, you will be entrusting an industry expert that understands the effect an unforeseen event can have on your business.

You will also be choosing a provider that offers a wide range of industry-specific insurance products that can help you manage your specific risks. With our years of experience in the insurance field we understand the potential hazards you may face and the financial impact they could have on your business.

WE ARE ONE OF QATAR’S LEADING INSURANCE PROVIDERS AND WE ARE LEADING THE WAY IN PREVENTATIVE SOLUTIONS.

15

In today’s competitive market, financial and reputational losses can be hard to recover from. That’s why we work with our customers in risk prevention alongside giving advice on the most appropriate insurance products.

Engineering

MotorMarine

Energy

CasualtyProperty

Medical & Life



16

Over the years we have formed strong and trusted working relationships with our Petrochemical, Fertiliser and Oil & Gas customers. We liaise with international markets to provide tailor-made packages to meet their specific needs.

We pride ourselves on building strong business relationships with our customers in this industry to meet their ever-growing needs and support them in protecting their financial and reputational risk exposure.

We have over 35 years’ experience providing insurance in the Energy Sector

24%Energy business accounts for 24% of our GWP*

35years

Products that match your industry needsContinued


ENERGY

17

Every business needs a transportation network. Our motor insurance for commercial customers offers bespoke packages for business road vehicles such as corporate cars, buses and heavy vehicles.

We understand how important it is to get you back on the road. Our motor insurance products and peripheral benefits are all focused on keeping your business transportation network running across Qatar and the United Arab Emirates.

We insure over 300,000 vehicles across Qatar*

We insure

the largest fleets in Qatar

+300

thousand


MOTOR



18

USD 20billion

As one of the leading providers of insurance for the Engineering industry, we use our technical risk knowledge to develop products of an international standard for our customers that cover their projects against financial loss from unforeseen events. Our specialist underwriting team are familiar in a range of risks specific to the engineering industry, including construction work, materials, machinery and electronic equipment.

Our products are built for purpose and specific to the type of project being insured. Recent projects we have insured include: large infrastructure projects, roads, buildings, towers and sewage works. Our aim is to help you achieve your construction and manufacturing goals on time and within budget.

*This is the estimated total sum assured provided by all members of the National Insurance Consortium.

We are a member of the

International Machinery Insurance Association

IMIA

We insure the largest project in Qatar

Qatar Rail USD 20 billion* As part of the National Insurance Consortium

ENGINEERING


19

Business continuity is of the utmost importance in any industry. We offer a range of insurance products that protect businesses against financial liability claims that may arise during construction, maintenance and day-to-day operations of the business.

Our range includes fidelity insurance, liability insurance, money insurance, professional indemnity insurance and workmen’s compensation insurance to name a few.

With our casualty insurance products, you can be confident that undesirable contractor, employee and customer-related incidents can be quickly managed, leaving you to concentrate on your business.

More than 80,000 manual workers across Qatar are covered by our workmen’s compensation insurance

80% of our engineering customers also trust us with their casualty insurance needs

+80 thousand 80%

CASUALTY



20

As a pioneer in our industry and preferred insurance provider in a number of areas, we understand the importance of risk management and prevention. With our guidance and in-house technology we help our customers identify risks within their property and suggest a suitable course of action to reduce the likelihood of these risks developing into potential hazards.

Our insurance products cover a wide range of insured perils. Our team of experts work with you on risk prevention and mitigation through periodical on-site visits.

We have the knowledge and expertise to help our customers prevent losses from actually happening.

We insure one of the

tallest towers in Qatar

More than 200 on-site visits were made in 2014 to support businesses in risk prevention

200 on-site visits

PROPERTY


21

Attracting and retaining talent in any business can be challenging in today’s competitive climate. Offering employees and their families the security of medical and life cover can be the added benefit you need to differentiate yourself from your competitors within the local and international market.

What’s more, providing your employees with access to trusted medical care can reduce the time they are away from work and subsequently the cost of additional resources.

We provide access to the widest medical provider network in Qatar

MEDICAL & LIFE

Widest medical provider network



22

MARINE

Protecting transport and marine insurance risks has been one of our core activities since our formation in 1979.

Since then, we have built a renowned level of marine insurance knowledge which has allowed us to gain the trust of some of the largest customers in the local market. We offer customised solutions protecting all stages of the distribution chain, including goods in transit, storage risks and project cargo for specialist shipments.

We insure more than 60,000 shipments annually

+60 thousand


23

Corporate social responsibility

We have a commitment to being a strong and positive influence in the community. Each year we work to raise awareness of key issues locally through participation in national events and charitable donations.

QGIRCO football team participates yearly in the Insurance Companies Football Tournament and were the 2014 champions.



24

Meet the team

Since our establishment in 1979, building a team of dedicated and knowledgeable professionals has always been our priority.

Today we rely on the industry expertise of these individuals and the teams they lead to form long-standing business relationships that are mutually beneficial and ingrained with our core values: trust, respect and loyalty.

With regional and international experience across our many industry-specific insurance products, our team are ready and able to support you.

Ghazi Abu NahlGroup Chief Executive Officer

25

Nadarajan PillaiActingChiefOperatingOfficer(Insurance)

T +974 442 82194

E [email protected]

Nadarajan Pillai is the Acting Chief Operations Officer (Insurance) with close to 30 years’ experience in underwriting (energy and non- marine), claims management, risk assessment surveys and risk management.

Mr. Pillai brings with him vast engineering experience which he uses to support our major corporate customers in the Oil & Petrochemical industry.

Mohammad ElailahAssistantChiefOperatingOfficer

T +974 442 82233

E [email protected]

Mohammad Elailah joined QGIRCO in 2005 and is now Assistant Chief Operating Officer (Non-Marine Underwriting). Previously, Mr. Elailah held various positions in underwriting before being appointed Assistant Chief Operating Officer in 2009.

Mr. Elailah holds a Master of Science in Insurance and Risk Management, an Advanced Diploma in Insurance from the Chartered Insurance Institute, UK and has conducted research in Islamic Insurance to support his professional development.

Mousa BitarChief Business Officer(Insurance)

T +974 442 82227

E [email protected]

Mousa Bitar has been the Chief Business Officer at QGIRCO since 2014. Mr. Bitar has extensive sales management experience in the insurance sector from his roles at the American Life Insurance Company (MetLifeAlico) in both Jordan and Qatar.

Before joining QGIRCO, he was the Agency Manager at MetLifeAlico in Qatar where he headed a successful field sales unit.

Michael ShehanGeneral Claims Manager

T +974 442 82163

E [email protected]

Michael Shehan is the General Claims Manager at QGIRCO and has more than 17 years’ experience in Underwriting and Claims Management Operations.

Mr. Shehan is an Associate of the Chartered Insurance Institute (ACII) & Elected as Chartered Insurer, UK, Elected as a Fellow of the Australian & New Zealand Institute of Insurance and Finance, ANZIIF (Fellow), Australia and Certified Insurance Professional (CIP), The Australian and New Zealand Institute of Insurance and Finance, Australia.

Jamal Abu NahlChiefExecutiveOfficer(Insurance)

T +974 442 82135

E [email protected]

Jamal Abu Nahl leads both the insurance and investment operations of the Company as Chief Executive Officer and is Chief Executive Officer for Qatar General Holding.

Highly regarded as a successful businessman and investor within the business community, Mr. Abu Nahl has more than 30 years’ experience in business, investments and related fields including projects development. He successfully spearheaded the reorganisation of the Group into a holding company towards the end of 2008 and maintains hands-on involvement in the Group’s strategic direction.

Maurizio ColauttiDeputyChiefExecutiveOfficer(Insurance)

T +974 442 82135

E [email protected]

Maurizio Colautti is the Deputy Chief Executive Officer (insurance) at QGIRCO. Mr. Colautti spent more than 30 years with the largest insurance company in Italy, Assicurazioni Generali before joining QGIRCO in 2013. During his time with Assicurazioni Generali, Mr. Colautti worked across Italy and the United Kingdom as the Head of the Generali Global with the responsibility of all lines of business for corporate customers and the engineering portfolio for the Group.

Mr. Colautti champions loss prevention techniques and has developed his team to support customers across Qatar in risk awareness and prevention measures.

Satheesan Menon AssistantChiefExecutiveOfficer(Insurance)

T +974 442 82276

E [email protected]

Satheesan Menon joined QGIRCO in 2010 as the Assistant Chief Executive Officer where he oversees the operations of the Insurance Division. Mr. Menon manages the underwriting, sales and claims of all classes of business and is also charged with establishing effective communications with international reinsurers, brokers, and loss adjusters in addition to ensuring excellent frontline customer service.

Previously, Mr. Menon was part of the management team at several insurance companies including Abu Dhabi National Insurance Co, UAE, Trust Re, Bahrain and New India Assurance Co, India.

Jehad ElghulehMotor Claims Manager

T +974 447 03001

E [email protected]

Jehad Elghuleh joined the Group in 2014 as manager of the Motor Claims Department, bringing with him 17 years’ experience across the Middle East. In his role, Mr. Elghuleh leads his team to ensure the highest level of customer service standards are maintained and efficient back office procedures are followed for all around exceptional service.

Mr. Elghuleh holds a Professional Insurance Certificate from the Bahrain Institute of Banking and Finance and a Bachelor ’s Degree in Business Administration from Mu’ta University in Jordan.

Deepa Chandrashekar FinancialController(Insurance)

T +974 442 82108

E [email protected]

Deepa Chandrashekar heads the finance function of Qatar General Insurance & Reinsurance.. She has over 23 years’ experience in finance and accounting across three different continents and varied industries that range from Oil & Gas, insurance, farming, and financial services.

Ms. Chandrashekar is a fellow member of Association of Chartered Certified Accountants UK, and a Chartered Professional Accountant,Canada. In addition, she is also a fellow member of the Insurance Institute of India.

Zaki H. BsaisoEmployeeBenefitsDept.Manager

T +974 447 03074

E [email protected]

Zaki H. Bsaiso is the Employee Benefits Department Manager at QGIRCO, responsible for all the operations of Medical and Life Insurance. He joined the team in 2013.

Mr. Bsaiso has 20 years’ experience in the health insurance industry and third party administration services (TPA), specialising in medical underwriting, product development, re-insurance treaties and account management. He holds a Bachelor of Science (BSc) in Public Administration and Political Science from the University of Jordan.



26

Our employees

We attract local, regional and international talent to all areas of our business. These individuals bring insurance-related experience across a number of industries to our team and can provide professional advice on your business needs.

With an average length of service of nine years and continued professional development, we are confident our employees have the regional knowledge and international market awareness you need to protect your business operations.

OUR PEOPLE ARE THE FOUNDATION OF OUR BUSINESS

27

Through employee knowledge and engagement we are able to build long-term business relationships with our customers.


QATAR GENERAL INSURANCE & REINSURANCE COMPANY

Main Office

Tel: +974 442 82222 Fax: +974 444 37302

PO Box 4500, Doha, Qatar

Email: [email protected]: www.qgirco.com

BRANCHES:

Salwa Road

Tel: +974 447 20974Fax: +974 445 10749


Email: [email protected]

Al Khor

Tel: +974 447 20974 Fax: +974 447 20974



Al Wakra

Tel: +974 446 45223Fax: +974 4464 5523



Musheireb (Sofitel)

Tel: +974 444 36620 Fax: +974 444 36620



Industrial area

Tel: +974 446 02725Fax: +974 446 03057



Al-Ruwais

Tel: +974 441 84378Fax: +974 441 84379



United Arab Emirates (Dubai)

Tel: +971 426 88688 Fax: +971 426 88118/288

M11 Royal House, Al Wuhaida Road PO Box 8080, Dubai, United Arab Emirates


GENERAL TAKAFUL COMPANY

Main Office

Tel: +974 443 39777 Fax: +974 446 62507


Email: [email protected]: www.g-takaful.net


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Contact us



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Qatar General Insurance and Reinsurance Company - 2015 ... · Qatar General Insurance & Reinsurance...

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