QLM Life and Medical Insurance Company (QLM) posted an insurance revenue of QR1.22bn in 2024 compared to QR1.12bn for the same period in previous year.

The net profit of the company stood at QR65.05mn in 2024 compared to QR76.28mn in 2023.

QLM Chairman Sheikh Saoud bin Khalid bin Hamad al-Thani acknowledged the distinctive challenges encountered throughout the year within the evolving global economic landscape.

“The momentum we have built throughout 2024 sets an inspiring foundation for the year ahead. As we welcome 2025, we are 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 are poised to deliver enhanced value and continue our journey of sustainable growth.”

Net investment and other income for 2024 stood at QR57.05mn compared to QR54.67mn in 2023. Earnings per share was QR0.19 per share compared to QR0.22 per share in the previous year.

QLM Board of Directors recommended a dividend of QR0.10 per share for 2024 (2023: QR0.125 per share), which will be placed for approval in the forthcoming annual general meeting of shareholders.

Chief Executive Officer Fahad Mohammed al-Suwaidi stated, "We are elevating the healthcare experience through advanced digital solutions that seamlessly connect our members with our extensive healthcare partner network. Our strategic vision for 2025 extends beyond traditional insurance – we are creating an integrated ecosystem that empowers our members to take charge of their health and wellness through innovative tools and resources.

“Alongside these technological advancements, we're expanding our retail presence with sophisticated new offerings in both life and medical insurance, carefully designed to promote proactive health management and meet the evolving needs of our diverse customer base. This holistic approach to health and wellness, supported by cutting-edge digital solutions, reinforces our commitment to being more than just an insurer – we are a dedicated partner in our members' health journey."