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Qatar Insurance Net Profit Rises 48% to
QR452 Million in Q3 2018
October 23, 2018
Qatar Insurance Company disclosed its
financial statements for the period ended 30 September 2018,
where figures showed a net profit of QR452 million, up 48%
compared to QR304 million for the same period last year.
The company’s earnings per share amounted to
QR1.16 for the period ended 30 September 2018, versus QR0.95 for
the corresponding period of 2017.
On another hand, the Board decided, in its
meeting No. (3/2018) held on 5/6/2018, to cancel the decision to
repurchase the company’s own issued shares, after the purpose of
that decision became invalid, as nearly five months have passed
without completing the procedures to implement it. The decision
to cancel the purchase was taken after a thorough study of the
company's long-term vision, and the regulatory framework
governing the repurchase in Qatar. This decision was also based
on the recent changes in the Qatari stock index after the
company's share was re-listed in the stock index, the share
regaining a large percentage of its value, and the increase of
liquidity per share.
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