Mubasher: Qatar General Insurance and Reinsurance reported an 820.5% year-on-year hike in profits for the fourth quarter of 2017.
Net profit stood at QAR 272.1 million (74.7 million) in Q4-17, versus QAR 29.6 million ($8.1 million) in the same period a year earlier, the company said in a bourse filing.
Meanwhile, net profit surged 40.1% to QAR 307.4 million in the full-year 2017, compared to QAR 219.3 million in the year before.
Earnings per share (eps) for 2017 amounted to QAR 3.51, against eps of QAR 2.51 in 2016.
The company’s board of directors recommended a cash dividend distribution of 22%, or QAR 2.2 per share for 2017 profits.
Qatar General Insurance’s capital amounts to QAR 875.07 million distributed over 87.51 million shares at a par value of QAR 10 per share.