Qatar Insurance Company turned to a profit in the third quarter of 2018.
Net profits amounted to QAR 67.1 million in Q3-18, against a loss of QAR 200.8 million in Q3-17, according to a filing to the Qatar Stock Exchange (QSE) late Tuesday.
Earnings per share (EPS) reached QAR 1.16 during the three-month period ended September, from QAR 0.95 in the same period of the prior year.
During the first nine months of 2018, the company’s profits hiked 48.5% to QAR 451.6 million, compared to QAR 304.1 million in the same period the year before.
The Group’s net underwriting result increased to QAR 378 million, compared with a loss of QAR 103 million for the same period last year.
Moreover, revenues increased 38.1% year-on-year to QAR 1.04 billion.
By 09:49 am Qatar time, Qatar Insurance’s stock declined 1.84% at QAR 36.80.