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.