Beema will 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, company chairman Sheikh Jassim bin Hamad bin Jassim bin Jaber al-Thani said on Tuesday.
Addressing company shareholders at the AGM yesterday he said since its establishment in 2009, Beema succeeded in occupying its distinctive position in the Qatari Takaful insurance sector, and crowned that success by transforming it into a public shareholding company in January this year.
Sheikh Jassim noted Beema took a number of important decisions and launched a set of distinguished plans last year, the most important of which was the transformation into a public shareholding company, the direct listing of its shares on the Qatar Stock Exchange. This was done as part of the company's strategy to keep pace with the fundamental changes in the market with local and global effect, and contribute more to supporting the national economy in line with the Qatar National Vision 2030.
Beema also worked on developing its performance, building a strong internal base for governance, compliance, anti-money laundering, and training cadres, as well as the 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 maintained strong solvency rates and high credit insurance, which helped it win the tender related to liability insurance for the FIFA World Cup Qatar 2022, 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% and achieving net profits for shareholders amounting to QR57mn.
Accordingly, the average profit per share has grown to QR0.28 in 2022.
Beema board member Mohamed Ismail al-Emadi presided over the meeting.
Beema's board of directors at the annual general meeting.
