Mubasher: Qatar General Insurance and Reinsurance (QGRI) on Tuesday announced appointing Hassan Al Efrangi as its new CEO after the approvals of its board of directors and the Qatar Central Bank (QCB).
This appointment follows Ghazi Abu Nahl’s resignation from this position after a 40-year tenure at the Qatari firm, QGRI said in a statement to the Qatar Stock Exchange (QSE).
For the full-year 2018, the Qatari firm’s profits fell 20.03% to QAR 245.81 million, from QAR 307.38 million in the prior year.
QGRI’s board of directors proposed a cash dividend distribution of 10% of the share’s nominal value, or QAR 1 per share, for the last fiscal year.
The Qatari firm’s capital reaches QAR 875.07 million, distributed over 87.50 million shares, with a nominal value of QAR 10 per share.
QGRI’s stock grew 10% to close at QAR 40.92 on Tuesday.
