DOHA: Qatar Islamic Insurance Company (QIIC), one of the leading Takaful insurance companies in Qatar and the world has changed its name to ‘The Group Islamic Insurance Company’.
According to a regulatory filing with the Qatar Stock Exchange, the shariha-compliant insurance services provider announced yesterday that its Board of Directors have management received approval from Qatar Central Bank (QCB), the insurance market regulator, to change company name from Qatar Islamic Insurance Company to The Group Islamic Insurance Company and establish real estate company owned 100 percent for the group.
In its meeting held recently, the Board of Directors approved to change the name of the company and the continuation of the necessary procedures and raise recommendation to the Extraordinary General Assembly Meeting to amend the Articles of Association of the company in accordance with the regulations and instructions regulating it.
Established in 1995, the Group offers a wide range of products and services for business including aviation, marine, freight, banking, electronics, computer, construction, engineering, energy and agricultural insurance.
It also offer cover for business premises and other commercial needs, while the company’s Balsam medical plans and Aman Takaful (life) insurance policies are available in individual, family and group form for company employees, according to information available on the company’s official website.