Doha, Qatar— The net profit of QLM Life & Medical Insurance Company fell by 33 percent in the third quarter of this year, to reach QR 49.751 million ($13.66 million), compared to QR 74.290 million in the same period last year.
The company said earnings per share fell to QR 0.14 at the end of the third quarter of 2022, compared to QR 0.21 in the same period of the previous year.
The gross written premium for the six-month period that ended on June 30, 2022 increased by 33 percent to QR742mn compared to QR556.4mn for the same period in 2021.
Net profit for the period stood at QR44.7mn or QR0.13 per share, compared with QR55.4mn or QR0.16 per share for the same period of previous year.
The company’s net profit for the nine months ended Sept. 30, 2021, was QAR 74.3 million ($20.4 million) and its gross written premium for the same period was QAR 750.1 million.
QLM Life & Medical Insurance Company was established in 2018, and was listed on Qatar Stock Exchange last year, with a capital of QR 350 million.