Doha Insurance discloses 2011 audited financials

Doha Insurance Company has disclosed the audited financial statements for the year ended December 31, 2011. The audited financials revealed a net profit of QR 65.8 million in 2011 versus QR 60.7 million in 2010, the Company said in a statement published on the (Qatar Exchange) website. The company's EPS amounted to QR 3.66 in 2011 compared to QR 3.37 in 2010. Doha Insurance Company is a Qatari shareholding formed in 2000 in response to the need for growth in the insurance industry, warranted by unprecedented accelerated economic expansion in Qatar as well as the enactment of laws encouraging investments.   During 2006, the Company established an Islamic Takaful branch under the brand name Doha Takaful to carry out insurance and reinsurance activities in accordance with Islamic Sharia principles on a non-usury basis in all areas of insurance. (QNA)