Mubasher: Doha Insurance Group on Wednesday announced that the group has received the approval from Qatar Central Bank (QCB) to open a representative office in London, UK.

The new branch will carry the name of International Casualty and Energy (ICE), according to the personal and corporate insurer’s filing to the Qatar Stock Exchange (QSE).

ICE aims at handling the company’s marketing activities to extend the Group’s reinsurance operations in the International arena.

The group has fulfilled all the formal procedures to launch this new office in accordance with the laws of the UK, the statement highlighted.

As for the full-year 2017, Doha Insurance’s profits slid 41.7% to QAR 42.16 million from QAR 72.25 million a year earlier.

Moreover, the group’s board approved distributing a cash dividend of QAR 0.75 per share to shareholders for 2017, representing 7.5% of the share’s nominal value.