Qatari insurer QLM Life and Medical Insurance Company reported that its underwriting income for 2021 increased by 16 percent and stood at QAR 119.2 million, compared to QAR 102.4 in 2020.
The Company’s net profit for the Year 2021 is QAR 106.2 million compared to QAR 98 million in 2020, a growth of 8 percent.
The company’s gross written premium for 2021 increased by 3 percent and stood at QAR 1.03 billion as against QAR 1 billion for the same period in 2020. Earnings per share was QAR 0.30 compared with QAR 0.28 per share, for the same period of the previous year.
The company’s board has recommended a cash dividend of 22 percent (QAR 0.22 per share), which will be placed for approval in the forthcoming Annual General Meeting of the shareholders and shall be subject to the approval of the regulator (Qatar Central Bank) and other statutory authorities.
Sheikh Saoud bin Khalid bin Hamad Al Thani, Chairman of the Board of Directors, said 2021 was the first year in which the net profits surpassed the QAR-100 million milestone and the first year of being a publicly listed company.