Doha: QLM Life & Medical Insurance Company QPSC, Qatar’s leading Life and Medical Insurer, announced yesterday strong Q3 2021 results. Net profit for the nine-month period ending September 30, 2021, was QR74.3m or QR0.21 per share, compared with QR69.5m, or QR0.20 per share, for the same period of 2020, representing a robust growth of 7 percent.
“QLM has consistently performed and demonstrated the strength of its operational excellence and digital transformation. Continuous innovation has helped build in efficiencies in its processes thus delivering strong bottom line growth in line with the expectations of all the stakeholders.” said Sheikh Saoud bin Khalid bin Hamad Al Thani, Chairman of QLM.
Fahad Al Suwaidi, CEO of QLM further stated “As the global and regional economies continue to recover, one of the focus area is towards tapping the business potential in the retail segment. In terms of its product offerings, QLM has an array of individual/family plans which can cater to the diverse needs of the market. This avenue will help fuel our growth as we encompass a larger market-base and provide our clientele with unique solutions.”
Gross written premium as on September 30, 2021, stood at QR750.1m as compared with QR784.9m for the same period of 2020. The gap in GWP continues to further narrow down as compared to previous quarters along with the strengthening of the bottom line as we progress towards the year end. Net investment income September 30, 2021, was QR29.2m, compared with QR30.3m for the same period in 2020.
QLM’s vision is to continuously provide outstanding healthcare services, by becoming the most trusted healthcare partner in Qatar and beyond, following a path of continued success.
