Doha- Mubasher: Qatar General Insurance and Reinsurance Co’s board agreed on the term sheet proposed by Qatar National Bank (QNB) for financing the group's subsidiary Mozoon Real Estate with an amount of QAR 2,550 million ($700 million), according to filing to Qatar Stock Exchange.

At their meeting held on 18 April 2015, the board gave the go-ahead for authorizing the chairman to sign the necessary documents to complete the facility agreement. 

The insurance company reported a jump in its Q1-15 profit by 64.9% to QAR 78 million ($21.41 million), compared to QAR 47.3 million ($12.99 million) during the same period of 2014.