QIC pins hopes on Qatar’s economic resilience, ‘fading’ impact of blockade:
Qatar Insurance Group has pinned hopes on the country’s robust economic resilience and the “fading” impact of the blockade, yet it is “cautiously” optimistic this year as it plans global expansion through the newly formed QIC Global.
“We are encouraged by Qatar’s strengthened economic resilience and the fading impact of the blockade as well as signs of improving trading conditions in global insurance and reinsurance markets,” QIC board said in its report presented before shareholders at the annual general assembly (GA) meeting, which was chaired by Abdulla bin Khalifa al-Attiya, deputy chairman of QIC Group. The shareholders endorsed the recommended distribution of cash dividend payout of 15% for 2018.
Global financial markets are poised to remain volatile as economic growth is slowing, it said, adding trade conflicts are brewing and central banks are adopting a “less accommodative” stand.
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