Qatar General Insurance Company Net Profit in Q1, 2017
Fall 19.7% to QR 43.1 Million
April 24, 2017
Qatar General Insurance &
Reinsurance's net profit amounted to QR 43.1 million, compared
to net profit QR 53.7 million for the same period of the
previous year. The Earnings per Share (EPS) amounted to QR 0.49
versus EPS per share QR 0.61
of the same period in 2017.
The Group's Comment
Qatar General Insurance & Reinsurance's total income increased by
4.2% to QR145.9 million in the first quarter of 2017. Other
sources of income increased to 100.9 million, while net premiums
dropped slightly to 45 million. Total expense increased by 22.4%
to 106.5 million, including QR29.5 million net claims, QR 43.7
million as public and administrative expenses. As result, net
profit posted in this period fell by 50% to QR43 million.
Comprehensive income loss shrunk by half in respect of
investment available for sale and currencies exchange rate;
comprehensive income increased by 28.9% to 25.4 million.
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