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Islamic Insurance Net Profit Drops to QR61.9 Million; Board
Recommends 35% Cash Dividends
February 19, 2018
Islamic Insurance net profit amounted to
QR61.9 million in the fiscal year of 2017, versus QR63.5 million
in 2016, while the company’s earnings per share reached QR4.13
compared to QR4.23 for the corresponding period. The Board
recommended distributing cash dividends of QR3.5 per share.
The Group’s Comments
Islamic Insurance net surplus more than
doubled in 2017, hitting a percentage of 108.4% to QR24.8
million, but the year-end surplus remained steady at QR83.5
million, unchanged from the previous year. With additional
revenues, the total revenue amounted to QR99.9 million, compared
with QR104.3 million in the previous year, and the company’s all
expenses decreased by 6.9% to QR37.97 million. Consequently the
net income fell by 2.5% to QR61.9 million.
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