Doha, Qatar: QLM Life & Medical Insurance Company QPSC (QSE: QLMI), Qatar’s leading Life and Medical Insurer, announced yesterday strong Q3 2023 results. Net profit for the nine-month period ending September 30, 2023, was QR53.06m or QR0.15 per share, compared with QR40.54m, or QR0.12 per share, for the same period of 2022, representing a robust growth of 31%.
Sheikh Saoud bin Khalid bin Hamad Al Thani, the Chairman of QLM, expressed, “QLM has maintained a track record of consistent performance, showcasing its operational excellence and prowess in digital transformation. Our relentless commitment to innovation has led to enhanced efficiencies within our operations, resulting in robust bottom-line growth that aligns with the expectations of all our stakeholders.”
Fahad Al Suwaidi, CEO of QLM, also remarked, “As the global and regional economies make strides in their recovery, a pivotal focus is directed towards exploring the business opportunities within the retail sector.
QLM offers a wide range of individual and family plans that can effectively address the varied demands of the market. This strategic approach will drive our expansion, enabling us to capture a broader market share and deliver distinctive solutions to our valued clients.”
Insurance revenue for the nine months period stood at QR813.05m as compared with QR891.6m for the same period of 2022. Net investment and other income for the nine months period ended September 30, 2023 witnessed a growth of 5% and stood at QR37.5m, compared with QR35.8m for the same period in 2022.
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.
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