Damaan Islamic Insurance Records QR28m Profit

Damaan Islamic Insurance Company (Beema) has recorded a profit of QR28m for the first half of 2013, against QR10m posted during the same period in 2012.

Announcing the first half results, the company, Chairman Sheikh Jassim bin Hamad bin Jassim bin Jabor Al Thani (pictured) said the contributions of policyholders by the company increased 19 percent in H1 2013 compared to the same period in 2012. The investment income increased by a staggering 177 percent compared to H1 2012.

The chairman added that what has been achieved during the first half of 2013 is considered as an achievement given the distinct view of the highly competitive situation of the insurance market in the country, and intense competition of insurance for Takaful and Conventional, as well as the new insurance companies that entered the Qatari market through the Qatar Financial Centre.

The company has achieved good returns during the first half of 2013 which will be a step forward for encouraging what will be achieved during the second half of the year, he said.

Source :  Peninsula