Doha Insurance Discloses Its Financial Statement for The Year 2016

 

January 30, 2017

 

Doha Insurance net profit reached QR72.2 million for the fiscal year 2016, compared to QR 111 million in  2015. EPS amounted to QR 1.44 compared to QR 2.22 for the period last year. The Board of Directors has also proposed a cash dividend of QR 0.60 per share.

 

The Group's Comment

 

Doha Insurance's net revenues from insurance subscription increased by 2% to QR 86.5 million in 2016. Investments revenues and other sources dropped by 46.2% to QR62.4 million. In contrast, total expenses declined by 11% to QR75.9 million. As result, the company's net profit dropped by 35% to QR72.2 million. The company incurred losses worth QR21.5 million; hence the comprehensive income dropped to QR50.8 million.