Qatar Insurance Company (S.A.Q.) Discloses Financial Statements for 2nd Quarter of 2017

July 26, 2017

Qatar Insurance Company disclosed its financial statements for the period ended on 30 June 2017. The statements shows that the net profit is QR 505 Compared to net profit amounting to QR 602 for the same period of the previous year.

The Earnings per Share (EPS) amounted to QR 1.89 for the period ended on 30 June 2017 to EPS amounted to QR 2.25 for the same period of the previous year.

The Group's Comment

Qatar Insurance Company's total income dropped by 8.6% to QR 858.8 million in the second quarter of 2017, including QR262.8 million as net income from insurance, and QR 563 million net investment income. Total administrative and operational expenses increased by 2.5% to QR 331 million. As result, net profit attributable to shareholders increased by 16.2% to QR 504.9 million. The company incurred loss as result of negative change in the fair value of investments worth QR 223.9 million, which reduced the comprehensive income attributable to shareholders by QR 47.2% to 298.4 million.