QLM Life & Medical Insurance Company QPSC
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QLM reports insurance revenue of QAR 279.4 million in Q1’2024, up by 14% – QLM Life & Medical Insurance Company QPSC

QLM reports insurance revenue of QAR 279.4 million in Q1’2024, up by 14%

April 30, 2024

Qatar’s leading life and medical insurer, QLM Life & Medical Insurance Company QPSC (QSE: QLMI), today reported its Q1’2024 performance results. The insurance revenue for the three-months period stood at QAR 279.40 million as against QAR 245.2 million in Q1’23.

“As industry leaders in a competitive market, our dedication to innovative solutions and customer-centric strategies ensures our continued success. Backed by a solid framework and a highly experienced team, we are ready to meet and exceed the expectations of our stakeholders”. said Sheikh Saoud bin Khalid bin Hamad Al-Thani, the Chairman of QLM.

The net profit of the company for the three months period ended March’24 stood at 17.43 QAR million as against QAR 20.03 million in March’2023. The earnings per share in Q1’24 was QAR 0.05 per share as compared to QAR 0.06 in Q1’23. Net investment and other income in Q1’24 stood at QAR 10.2 million, compared to QAR 10.6 million in Q1’23.

Fahad Al- Suwaidi, QLM CEO, stated “QLM provides an extensive and expanding selection of insurance products across both health and life sectors. This is bolstered by our meaningful partnerships with a diverse range of healthcare providers, allowing us to cater to our members' needs. This commitment has earned us a reputation as a trusted and reliable partner for life and health insurance.”

QLM is a public listed 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.