Doha Insurance Profits in Q2, 2017 Rise 62.2% to QR 33.9 Million

Earnings per share stood at QR 0.68

 

August 07, 2017  
 
Doha Insurance Group net profit in the first half 2017 rose 62.2% to QR 33.9 million compared to QR 20.9 million in the corresponding period last year. Earnings per share stood at QR 0.68 versus QR 0.42 in the corresponding period in 2016.
 
The Group Securities Comment:
 
 Although insurance revenues in the first half of the year increased by 25.2% to QR 99.8 million, yet, net insurance revenues decreased by 22.4% to QR 37.5 million. Investment revenues doubled several times to QR 28.5 million compared to QR 6.4 million in the corresponding period last year. As a result, net profit increased 62.2% to QR 33.9 million. On the other hand, the fair value losses on available-for-sale investments doubled to QR 51.8 million turning the company's profit to a comprehensive loss of QR 5.4 million compared to a profit of QR 23.4 million in the corresponding period in 2016.