AL KHALEEJ INSURANCE & REINSURANCE COMPANY QSC – A PROFILE

Al Khaleej Insurance & Reinsurance Company QSC, a prominent National Insurance company in Qatar, has been transacting all types of general insurance and reinsurance business since its incorporation in the year 1978.

During its existence spanning over quarter of a century, Al Khaleej has made a niche in the local insurance market for its professionalism, integrity and unmatched superior services to the clients.

The Gross Premium of Al Khaleej for the year 2006 amounted to QR 209,155,106, which represents a growth rate of 34% as compared to previous year. The Net Profit of QR 35,658,465 for the year 2006 is 54% less than the corresponding figure in 2005. The total Shareholders Equity as on 31/12/2006 stands at QR 557,067,858 registering a decrease of 34% when compared to the figure at the end of 2005.

Standard & Poor’s latest Insurer Financial Strength Rating of Al Khaleej is BBBpi (good).

The Company has been making commendable progress in line with the objectives of shareholders with due emphasis on its role to serve the local economy as a national company. As one of national companies authorized to provide insurance protection to the assets and infrastructure of the country, Al Khaleej is proud of its contribution to the economic growth of Qatar under the wise direction and leadership of His Highness Sheikh Hamad Bin Khalifa Al-Thani, the Emir and His Highness Sheikh Tamim Bin Hamad Al-Thani, the Heir Apparent.

The company’s Board of Directors comprises of luminaries from local business community who are well known for their sound business acumen and prudence. The Chairman of the Board of Directors is Sheikh Abdulla Bin Mohamed Jabor Al Thani, whose strategic direction and efficient leadership has been instrumental in the progress of the company.

Al Khaleej has a dedicated team of qualified professionals who have the necessary experience and expertise of handling all classes of insurance. One of the strength of Al Khaleej is the personal touch of its service to the clients duly backed by prompt and expeditious settlement of claims.

The company has appropriate insurance products for covering Property, Engineering, Liability, General Accident, Marine Transit, Marine Hull etc. which fully cater to the requirements of the vibrant energy, commercial and industrial sectors of the country. In personal lines of business, the company has policies to cover Householders Comprehensive package, Medical Expenses, Travel contingencies, Life, Personal Accident etc. Al Khaleej can legitimately be proud of supporting the insurance needs of the Oil and Gas sector, which is the mainstay of the local economy, as an insurer of some of the major Energy Projects and operating risks.

Al Khaleej has always been in the forefront in introducing appropriate insurance products in tune with the developments in the international insurance market for the benefit of its customers. Responding to the demands of many of its valued clients for the Islamic Insurance products, the company has established a branch for Takaful Islamic Insurance, which is functioning as a separate legal entity.

In the sphere of reinsurance, which is the backbone of stability and security of insurance companies, Al Khaleej deals with world renowned Reinsurers and brokers. Reinsurance treaties are placed with reputed top international reinsurers with S&P rating of not less than “A-“ thereby ensuring highest protection and security to the policyholders.

Al Khaleej has amply proved, throughout its existence over the past 29 years, its capability in delivering solutions to the changing risk management needs and business objectives of the clients with innovative products and superlative service.