Qatar Insurance Net Profit Rises to QR452 Million in Q3 2018

October 24, 2018

Qatar Insurance Company’s net profit amounted to QR452 million in the first nine months of 2018, compared to QR304 million for the same period last year, while the company’s earnings per share reached QR1.16, versus QR0.95 for the corresponding period of 2017.

The Group’s Comments:

Qatar Insurance’s gross revenue rose by 38.7% to QR 1,043.7 million in the first nine months of 2018, of which QR378.3 million were generated from insurance and QR615 million from investment, while the company’s total expenses climbed by 28.1% to QR582.9 million. As a result, the net profit hiked by 48.5% to QR451.6 million, and due to fair value losses, the comprehensive income amounted to QR290.3 million, compared to QR74.6 million recorded in the corresponding period of 2017.