Qatar: QLM reports insurance revenue of $157.80mln in second quarter of 2024

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Doha: Qatar’s leading life and medical insurer, QLM Life & Medical Insurance Company QPSC (QSE: QLMI), reported its Q2 2024 performance results. The insurance revenue for the six-months period stood at QR574.4m as against QR527.1m in Q2 2023.

“Central to our mission is an unwavering focus on our members. By integrating advanced technologies with the deep knowledge of our experienced local experts, we ensure that our members receive unparalleled care, delivered with exceptional ease and precision. Through these carefully crafted approaches, we continually fortify our position as an essential option for our partners and stakeholders” said Sheikh Saoud bin Khalid bin Hamad Al Thani, the Chairman of QLM.

The net profit of the company for the period ended 30th June’24 stood at QR42.1m as against QR46.7m in June 2023. The earnings per share in Q2 2024 was QR0.12 per share as compared to QR0.13 in Q2 2023. Net investment and other income in Q2 2024 stood at QR23.9m, compared to QR25.3m in Q2 2023.

Fahad Al Suwaidi, QLM CEO, stated “QLM’s relentless drive to elevate industry standards continues to shape the future of insurance, locally and across the region. We blend cutting-edge technology with an insightful understanding of our members’ various needs, ensuring that exceptional service is more than a promise—it’s a daily reality. By keeping our members at the center of all we do, ensuring their satisfaction and trust remain our top priorities as we continue to lead the way in the insurance sector.”

QLM is a publicly listed Qatari company specializing in life and medical insurance solutions and aim at providing best-in-class service to its clients, with a unique value proposition. The Company’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 in health insurance.