Tribune News Network
Doha
QLM Life and Medical Insurance Company revealed its financial results for the twelve-month period ending December 31, 2024. The Company reported insurance revenue of QR1.22 billion as against QR1.12 billion for the same period in previous year. The net profit of the Company stood at QR65.05 million (2023: QR76.28 million) .
Addressing the company’s performance in 2024, Sheikh Saoud bin Khalid bin Hamad Al Thani, Chairman of the Board of Directors, acknowledged the distinctive challenges encountered throughout the year within the evolving global economic landscape.
“The momentum we’ve built throughout 2024 sets an inspiring foundation for the year ahead. As we welcome 2025, we’re enthusiastically advancing our innovation agenda and expanding our capabilities to better serve our growing community of stakeholders.
With a clear vision and robust strategy in place, we’re poised to deliver enhanced value and continue our journey of sustainable growth.” Net investment and other income for the year stood at QR57.05 million as against QAR54.67 million in 2023.
Earnings per share was QR0.19 per share as compared with QR0.22 per share in the previous year.
The Board of Directors of the company have recommended a dividend of QR0.10 per share (2023: QR0.125 per share) which shall be placed for approval in the forthcoming Annual General Meeting of the shareholders.
Fahad Mohammed Al-Suwaidi, Chief Executive Officer, stated “We’re elevating the healthcare experience through advanced digital solutions that seamlessly connect our members with our extensive healthcare partner network.
Our strategic vision for 2025 extends beyond traditional insurance - we’re creating an integrated ecosystem that empowers our members to take charge of their health and wellness through innovative tools and resources.
Alongside these technological advancements, we’re expanding our retail presence with sophisticated new offerings in both life and medical insurance, carefully designed to promote proactive health management and meet the evolving needs of our diverse customer base.
This holistic approach to health and wellness, supported by cutting-edge digital solutions, reinforces our commitment to being more than just an insurer - we’re a dedicated partner in our members’ health journey.”
QLM Life & Medical Insurance Company is a publicly listed company specializing in life and medical insurance solutions and is regulated by the Qatar Central Bank.
It provides best-in-class service to its clients, with a unique value proposition. The Company’s vision is to continuously provide outstanding medical and life coverage, by becoming a trusted healthcare partner.
