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Qatar Insurance Net Profit Falls 23.8% to
QR230 Million in Q1 2018
April 25, 2018
Qatar Insurance Company disclosed its
financial statements for the period ended 31 March 2018, with a
net profit of QR230 million, a drop of 23.8%, compared to QR302
million for the same period last year. The company’s earnings
per share for the first quarter of 2018 amounted to QR0.66,
versus QR0.95 for the same period in 2017.
The Group
Comment
Qatar Insurance Company net income from
insurance policy sales fell by 65.8% to 115 million in the first
quarter of this year, and net investment profit dropped by 3.6%
to QR 274.6 million. Hence, comprehensive income went down to
QR407.1 million, compared to QR 478.6 in the corresponding
period. Total expenses stood at QR 166.4 million, slightly
edging up. As result, net profit decreased by 23.6% to QR 230.2
million. As there was a negative change in the fair value worth
163.5 million, comprehensive income dipped to QR 73.6 million,
compared to QR 223.1 million.
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