Qatar: QIIG reports 26% increase in net profit
Source: Middle East Insurance Review | Mar 2023
Net profit for Qatar Islamic Insurance Group (QIIG) grew by 26%, to QAR101.1m ($27.8m) versus QAR80m in 2021. Total shareholder revenues reached QAR155.7m compared to QAR134.4m in 2021, while earnings per share increased to QAR0.68 from QAR0.53 in 2021. The board of directors recommended distributing a dividend of 45% to shareholders.
Gross contributions for QIIG grew by 9% in 2022 reaching QAR467m compared with QAR428m in the previous year.
Group president Ali Ibrahim Al-Abdulghani noted that QIIG achieved QAR22.2m in surplus for policyholders, and the board has recommended, in accordance with the shariah supervisory board, the distribution of a 15% surplus to the total participants in the group’s takaful operations for 2022. M