The board Qatar Insurance Company has approved to transfer Qatar Life & Medical insurance (QLM) to be registered under Ministry of Economy and Trade. New company will be established as Limited Liability Company, fully owned by Qatar Insurance Company. All assets & liabilities shall be transferred from the old Company (QLM), which is currently in termination stage with Qatar Financial Center. These procedures as been approved by Qatar Central Bank.

With respect to QIC Capital holding a subsidiary of the Group registered under Qatar Financial Center holding all international operations within the Group, Qatar RE Company Antares & Qatar Europe limited (QEL). 

The board has approved to offer the Minority owners in QIC capital an offer to acquire their share by replacing these shares with shares in Qatar Insurance Company. These shares will be issued for this purpose only and they will get the right to subscribe in these shares. This offer mechanism is subject to the regulatory & supervisory bodies approvals.