(The Group’s Comments) Qatar Insurance Net Profit Climbs to QR 266 Million in the First Quarter of 2019

April 28, 2019

Profits: Qatar Insurance profits rose by 15.6% to QR 266.1 million in the first quarter of 2019, compared to QR 230.2 million recorded in the same period of last year, while its earnings per share reached QR 0.76 in this quarter, versus QR 0.66 for the corresponding quarter of 2018.

Net Results of the Offering: Although the net premiums earned for the first quarter decreased by 2.0% compared to the corresponding period of 2018, the net results of the subscription increased significantly to reach QR 166.3 million, an increase of 44% compared to QR 115.0 million for the same period of 2018. This increase was due to the rise in the amount recovered from reinsurance of about QR 105 million, in addition to the improvement of the outstanding claims by QR 636 million, offsetting the increase in total claims which increased by QR 663 million.

Comprehensive Income: Qatar Insurance reported an estimated valuation profit for its financial assets and exchange rate differences of QR 261.8 million in this first quarter, compared to a loss of about QR261.8 million for the corresponding period of 2018.

Shareholders' Equity: amounted to QR 7,880.3 million compared to QR 7,725.8 million at the end of the year, an increase of QR 154.5 million. The company paid QR 478.4 million in dividends for 2018, but the first quarter profit improved by QR 229 million, which led to the increase of shareholders' equity.