Doha [Qatar], March 29: QLM Life and Medical Insurance Company (QLM) has approved a cash dividend of 10 percent at its Annual General Assembly (AGM) meeting held on March 26, 2026, following a year of robust financial performance and sustained growth.
The AGM, conducted virtually via the Microsoft Teams platform, approved the company's financial statements for the fiscal year 2025, during which QLM reported strong insurance revenue of QR1.49 billion, reflecting a significant 22 percent increase from QR1.22 billion in 2024. Net profit for the year reached QR65.54 million, while net investment and other income stood at QR53.8 million. Earnings per share remained stable at QR0.19.
Shareholders endorsed the board of directors' recommendation to distribute a cash dividend of 10 percent of the nominal share value, equivalent to QR0.10 per share. The total dividend payout, amounting to QR35 million, will be transferred to Edaa for distribution to eligible shareholders.
The General Assembly also approved all related party transactions conducted during 2025, adopted the corporate governance report, and sanctioned the remuneration and related party policy for 2026. Additionally, shareholders discharged the board of directors from liability for the financial year and approved their remuneration, subject to approval by the Qatar Central Bank. Auditors for the financial year 2026 were also appointed.
Commenting on the company's performance, QLM Chairman Sheikh Saoud bin Khalid bin Hamad Al Thani said the company's achievements extend beyond financial results, emphasizing QLM's commitment to building a trusted insurance ecosystem that supports community well-being and strengthens health security in Qatar.
QLM Chief Executive Officer Fahad Mohammed Al Suwaidi highlighted that the 22 percent growth in revenue reflects a focused strategy on sustainable expansion and operational excellence. He noted that innovation remains central to enhancing service efficiency and maintaining the company's leadership in the local insurance sector.
During the AGM, shareholders elected the Board of Directors for a three-year term. Non-independent members include Sheikh Tamim bin Hamad bin Jassim bin Jaber Al Thani representing Qatar Insurance Company, along with Salem Khalaf Ahmad Al Salem Al Mannai, Jassim Mohammed Ali Abu Jassim Al Kaabi, Ahmed Mohammed Ahmed Ramel Al Mannai, and Hamad Mohammed Hamad Abdan Al Marri. Independent members elected include Sheikh Khalid bin Saoud bin Khalid bin Hamad Al Thani, Mohammed Abdulaziz Al Saad Al Kuwari, and Issa Mohammed Issa Al Hassan
Al Mohannadi.
Following the Ordinary AGM, the Extraordinary General Assembly approved amendments to the company's Articles of Association to align with the Corporate Governance Code for Listed Entities issued by the Qatar Financial Markets Authority. Shareholders authorized the Chairman or Vice Chairman to complete all necessary formalities related to these amendments.
Subsequently, the newly elected Board convened and appointed Sheikh Tamim bin Hamad bin Jassim bin Jaber Al Thani as Chairman and Salem Khalaf Ahmad Al Salem Al Mannai as Vice Chairman for the new term, marking the beginning of a new leadership phase for the company.
With strong financial results, a clear growth strategy, and reinforced governance practices, QLM is well-positioned to sustain its upward trajectory in Qatar's dynamic insurance sector.
Source: Qatar Tribune
