Ogden hit dents QIC Q1 profits

Consolidated net profit at Qatar Insurance Company (QIC)
declined by 5.6 percent to $85mn in the first quarter of this year,
after the combined ratio took a $31mn hit from the change to the
UK's Ogden rate.
QIC's net underwriting result decreased by 35 percent to
$49mn in Q1 2017, after its reinsurance arm Qatar Re took a loss
from the UK government's decision to cut the Ogden rate from
2.5 percent to minus 0.75 percent.
The group's combined ratio...