Mubasher: Qatar Insurance Company (QIC) on Sunday reported a 54.59%% surge in annual profits during 2018, registering QAR 645.94 million, compared to QAR 417.59 million from January to December 2017.
Earnings per share (EPS) reached QAR 1.78 for the full fiscal year 2018, up from QAR 1.11 in 2017, according to QIC's financial statements.
The value of written premiums rose 8% to QAR 12.6 billion from January to December 2018, while the value of investment revenues and other revenues amounted to QAR 863 million, according to a statement to the Qatar Stock Exchange (QSE).
Qatar Insurance is injecting around QAR 10 billion to the national economy, the firm’s CEO Khalifa Al Subaey said.
The company is also playing a major role in supporting the Qatari economy, as well as contributing to enhancing its efficiency, Al Subaey added.
“The group has proved its leading and influencing position in the Middle East and North Africa (MENA) region while continuing its march towards strengthening its position in the global markets and achieving the best operational efficiency,” the CEO noted.
The Qatar insurance firm’s profits grew to QAR 194.37 million during the fourth quarter of 2018, from QAR 113.47 million in Q4-17.
