(MENAFN- The Peninsula) The Peninsula
Doha: Beema took a number of important decisions and launched a set of distinguished plans during the year 2022.
The most important plans include the transformation into a public shareholding company, the direct listing of its shares on the Qatari Stock Exchange, preparing a strategy to keep pace with the fundamental changes in the market with local and global effect, and contributing more to supporting the national economy in line with Qatar's National Vision 2030.
The meeting was chaired by the member of the Board of Directors, Mohamed Ismail Al Emadi.
It also worked on developing its performance, building a strong internal base for governance, compliance, anti-money laundering, and training cadres, as well as the company's Board of Directors, on disclosure and transparency methods, in line with the requirements of the regulatory authorities.
It also developed insurance services, improved the performance of submitting electronic claims, and always strived to provide innovative insurance solutions available to all clients at reasonable prices and high quality. Despite the challenges facing the insurance industry, Beema has maintained strong solvency rates and high credit insurance, which made it win the tender for the World Cup 2022, which is related to liability insurance, after intense competition with major insurance companies in the country. Beema managed to achieve a good increase in the total subscriptions and achieve a surplus for policyholders.
It also succeeded in increasing the income for shareholders by (15 percent) and achieving net profits for shareholders amounting to (QR57m). Accordingly, the average profit per share has grown to (QR0.28) in the year 2022. Based on that success, we expect in the next phase to continue improving the quality of insurance products and innovating more services, as well as understanding the changes and developments of the local market and strengthening the performance of the company's investment portfolios.
The Company has complied with governance requirements and principles. The Annual Governance Report for the year 2022, which will be presented to the Ordinary General Assembly of the company for approval, and a copy of which is attached to this report, includes the company's position on the principles of governance.
In light of these good results, the Board of Directors, in coordination with the Sharia Supervisory Board, recommends distributing (7 percent) to document holders who have no claims in 2022, approving the distribution of dividends to shareholders at the rate of (16 percent) of the nominal value of the share, which is equivalent to (0.16 Qatari Riyals), granting a reward of (2.5 percent) to the Board members, in appreciation of their efforts during that year and submitting these recommendations to the company's General Assembly for approval.
The Board expresses its highest gratitude and appreciation to H H, the Amir of the State, and the Prime Minister, for their support and encouragement to the company. It also extends its sincere thanks to the employees of the Ministry of Commerce and Industry and Qatar Central Bank for their sincere cooperation, the Sharia Supervisory Board of the company for its generous guidance, the honorable shareholders.