QLM Reports Insurance Revenue Of QR1.22Bn

2025-02-06 02:45:12

(MENAFN- The Peninsula) The Peninsula

Doha: QLM Life and Medical Insurance Company (QLMI), the leading medical & life insurance company in Qatar, revealed its financial results as at and for the twelve-month period ending December 31, 2024.

The company reported insurance revenue of QR1.22bn as against QR1.12bn for the same period in previous year. The net profit of the company stood at QR65.05m (2023: QR76.28m).

Addressing the company's performance in 2024, sheikh Saoud bin Khalid bin Hamad Al Thani, Chairman of the Board of Directors, acknowledged the distinctive challenges encountered throughout the year within the evolving global economic landscape.

“The momentum we've built throughout 2024 sets an inspiring foundation for the year ahead. As we welcome 2025, we're enthusiastically advancing our innovation agenda and expanding our capabilities to better serve our growing community of stakeholders. With a clear vision and robust strategy in place, we're poised to deliver enhanced value and continue our journey of sustainable growth.”

Net investment and other income for the year stood at QR57.05m as against QR54.67m in 2023.

Earnings per share was QR0.19 per share as compared with QR0.22 per share in the previous year.

The Board of Directors of the company have recommended a dividend of QR0.10 per share (2023: QR0.125 per share) which shall be placed for approval in the forthcoming Annual General Meeting of the shareholders.

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