By Eslam Salem
Doha – Mubasher: Doha Insurance is planning to launch its new branch in the Industrial Zone during the second quarter of this year, said CEO Bassem Hussein.
The insurance firm is currently working on diversifying its investment portfolio through conducting studies on utilising two owned land plots, the top executive told Mubasher on the sidelines of the company's ordinary general meeting.
He added that these studies showed expected leasing revenues ranging between 6% and 7% annually.
Asked about the company's overseas investments, the CEO explained that owned unit in Dubai Financial Center launched its operations in re-insurance subscriptions last December.
Doha Insurance shareholders approved today the distribution of cash dividends for FY15 at 10%, or QAR 1 per share.
The company earlier posted a 44.1% rise in FY15 net profit to QAR 111 million ($30.47 million), from QAR 77 million ($21.13 million) a year earlier.
Translated by Sayed Abdel Rahman
