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4 Qatari insurers raising stakes in Qatari Unified Bureau Insurance

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4 Qatari insurers raising stakes in Qatari Unified Bureau Insurance

A trioof Qatari insurance companies said in May 9 regulatory filings that their boardsapproved increases in their respective stakes in Qatari Unified Bureau InsuranceWLL.

, andQatar Islamic Insurance Co. QSCall said they would pay 6.75 million Qatari riyals each to raise their respectivestakes to 25% from 20%. They follow QatarGeneral Insurance & Reinsurance Co. SAQ, which said April 28 thatit would likewise pay 6.75 million riyals to raise its stake to 25% from 20%.

QatariUnified Bureau Insurance is a limited liability company that provides insuranceon vehicles entering Qatar and sells insurance cards for vehicles traveling outsidethe country.

As of May 9, US$1 was equivalentto 3.64 Qatari riyals.