Qatar Insurance Company: Q1 2024 results

Qatar Insurance Company (QIC) has published its main quarterly business indicators.

The company's net profit as at 31 March 2024 amounted to 194 million QAR (52.7 million USD), up by 11% compared with the 175 million QAR (47.6 million USD) recorded in the same period of 2023. Investments and other income increased by 1.8% to 227 million QAR (61.7 million USD).

The insurance revenue climbed from 1.346 billion QAR (365.8 million USD) as at 31 March 2023 to 1.634 billion QAR (444.1 million USD) a year later, representing a 21.4% growth. Gross written premiums stood at 2.75 billion QAR (747.4 million USD).

The company's total assets and shareholders' equity for the first quarter of 2024 reached 28.211 billion QAR (7.7 billion USD) and 8.64 billion QAR (2.3 billion USD) respectively.