Beema posts QR63m net profit in 2015

20/01/2016 07:55 AST

The net profit of the shareholders of Damaan Islamic Insurance's (Beema) touched QR63m for the full-year 2015.

The financial results were announced after the company's board of directors' meeting yesterday. The meeting was chaired by Abdullatif Abdulla Zaid Al Mahmoud, the Deputy Chairman of the company.

Addressing the meeting, the deputy chairman said Beema has achieved a gross contribution of QR314m in the year 2015; a 23 percent increase on year-on-year; and a surplus of QR16.5m from insurance operations, up 114 percent compared to the year 2014. The shareholders profit increased 17 percent to QR46.5m.

The investment portfolio achieved an income of QR19.2m during the year 2015, thanks to the outstanding performance and the diversity of products, innovative services and expanding customer base.

The outstanding results achieved by Beema, confirms its ability to achieve the best results in the face of competition within the Qatari insurance market, despite it being only a five-year-old company.

Beema has proven itself to be a worthy contender in Qatar's insurance market, he added. Nasser Al Misnad (pictured), Chief Executive Officer, said Beema's growth and achievements during the past three quarters of 2015, is the direct outcome of Beema's primary goal of reaching out to customers by providing a comprehensive range of innovative products, services and delivering quality customer services.

"Thus, we are constantly developing new customer service initiatives to make our customers' lives easier, such as our doorstep service whereby customers are able to renew or buy their comprehensive motor insurance for their cars over the phone, from the comfort of their office or their home. We put customer service at the heart of what we do and strive to provide Takaful solutions that provide outstanding cover and protection to our valued clients against the widest possible risks," he said.

Beema is constantly developing innovative products/services for the benefit of their customers, whilst contributing to the economic development of the country, he added.

The Peninsula