Sheikh Abdullah bin Thani Al Thani
Qatar Islamic Insurance Company (QIIC) reported a gross premium of QR161.04m for the first half of 2017 (H1, 2017), compared to QR161.02m posted during the same period last year.
The policyholders’ surplus from insurance operations posted impressive growth of 15 percent to reach QR18.87m as compared to QR16.41m last year. The overall surplus rose to QR13.09mn from last year’s QR12.65m.
QIIC’s shareholders’ profits grew by 1 percent and stood at QR36.06m in the first half of this year, compared to QR35.73m reported a year ago. Overall Assets grew by 2.8 percent to QR845.8m from QR822.7m.
The Earning per share increased to QR2.4 this year as compared to QR2.38 during the same period last year. The Chairman of the Board, Sheikh Abdullah bin Thani Al Thani, expressed his satisfaction over the performance of the company during these testing times.
Despite the growing challenges in domestic and regional economy QIIC did not only manage to maintain the size of its portfolio but also managed to increase its underwriting efficiency that helped support the overall results and allowed us to consistently declare surplus for our policyholders that has now reached a level of 20 percent for the last eight years, commented QIIC’s Chief Executive Officer Ali Ibrahim Al Abdulghani.
He thanked all policyholders for their unfettered confidence in the company.
