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BusinessBima distributes 7% profits to policyholders

Bima distributes 7% profits to policyholders


The General Assembly of the shareholders of Daman Islamic Insurance Company “Bima” held its Ordinary General Assembly yesterday evening at the company’s headquarters under the chairmanship of Mr. Mohammed Ismail Al-Emadi, a member of the Board of Directors. He said during his public address, I am pleased to congratulate you on another year of good performance and positive financial results in the business growth achieved by Bima during the year 2022.

He said: Since its establishment in 2009, Beema has succeeded in confirming its worth in occupying its distinguished position in the Qatari Takaful insurance sector, and crowned that success by transforming it into a public joint stock company in January 2023.

Beema took a number of important decisions and launched a set of distinguished plans during the year 2022, the most important of which was Transforming into a public shareholding company and listing its shares directly on the Qatar Stock Exchange, and preparing a strategy to keep pace with the fundamental changes in the market affecting locally and globally and contribute more to supporting the national economy in line with the state’s vision 2030 AD.

It also worked to develop the company’s performance and build a strong internal base for governance, compliance, and combating Money laundering and training of cadres as well as the company’s board of directors on methods of disclosure and transparency in line with the requirements of the regulatory authorities, and also the development of insurance services and improving the performance of submitting electronic claims and the constant endeavor to provide innovative insurance solutions available to all customers at reasonable prices and high quality, and despite the challenges facing the insurance industry, but Bima maintained strong solvency ratios and high credit insurance, which gave it the winning bid The 2022 World Cup, which is related to liability insurance, after intense competition with major insurance companies in the country. He added: Bima was able to achieve a good increase in the total subscribed subscriptions, and achieve a surplus for policyholders.

It also succeeded in increasing the income for shareholders by (15%) and achieving a net profit for shareholders amounting to 57 million Qatari riyals. Accordingly, the profit rate per share has grown to 0.28 Qatari riyals in the year 2022. Based on that success, we expect in the next stage to continue to improve the quality of insurance products and innovate more services, in addition to understanding the variables and developments of the local market and strengthening the performance of the company’s investment portfolios. He added: The company has committed itself to the requirements and principles of governance, including the annual report of governance for the year 2022, which will be presented to the company’s ordinary general assembly for approval.

Copyright © 2023 The Eastern Herald.

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