Friday, 16 April 2021 10:10 GMT

Qatar Insurance Company renews license for Abu Dhabi branch


(MENAFN - The Peninsula) QNA

Doha: Qatar Insurance Company (QIC) has renewed the license to operate the company's branch in Abu Dhabi, in order to continue its normal activity in UAE, a statement posted on Qatar Stock Exchange website said on Tuesday.

The company had earlier announced it was unable to renew the business license for its branch, which has been operating in the emirate of Abu Dhabi since 2002, due to the political events prevailing in the region.

QIC was established in 1964 as the first insurance company in the State of Qatar. It is listed on the Qatar Stock Exchange and the market capital of the company exceeds $4 billion. The company now occupies a significant position in the insurance market in the GCC countries and the Middle East, and has the highest credit ratings in the Gulf region.

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