Qatar Islamic Insurance Company’s (QIIC) shareholders profit grew by 1% to reach QR36.06mn compared to the QR35.73mn it recorded in the same period last year.
Overall assets grew by 2.8% to QR845.8mn compared to QR822.7mn last year, while earnings per share increased to QR2.4 this year compared to QR2.38 during the same period last year.
QIIC booked gross contributions (premium) of QR161.04mn compared to QR161.02mn during the same period last year.
The policyholders’ surplus from insurance operations posted a 15% growth to reach QR18.87mn compared to QR16.41mn last year, whereas overall surplus stood at QR13.09mn compared to QR12.65mn last year.
QIIC chairman Sheikh Abdullah bin Thani al-Thani, “expressed satisfaction” over the company’s performance “during these testing times.”
QIIC CEO Ali Ibrahim al-Abdulghani said despite the growing challenges in domestic and regional economy, “QIIC did not only manage to maintain the size of its portfolio but also managed to increase its underwriting efficiency that helped support the overall results and allowed us to consistently declare surplus for our policyholders that has now reached a level of 20% for the last eight years.”
Sheikh Abdullah: Maintaining efficiency. Right: Al-Abdulghani: Consistently declaring surplus.
