QLM reports QR15.3mn net profit on QR364mn revenues in Q1

27/04/2026 06:28 AST

QLM Life and Medical Insurance Company has reported strong insurance revenue of QR364mn in the first quarter (Q1) of 2026, up 22% on annualised basis.

Net profit was flat at QR15.3mn in Q1-2026, translating into earnings per share of QR0.04.

Net investment and other income stood at QR13.4mn against QR12mn in Q1-2025.

"These Q1 results are a clear reflection of the disciplined execution of our strategy and the trust placed in us by our shareholders, clients, and regulators, and they demonstrate our ability to grow alongside Qatar's evolving economy in full alignment with the objectives of Qatar National Vision 2030," said Sheikh Tamim bin Hamad bin Jassim bin Jabor al-Thani, chairman of QLM.

On its digital and AI (artificial intelligence) agenda; he said their responsible adoption is at the heart of QLM's strategic agenda for the 2026-28 cycle.

"We firmly believe that the future of insurance will be defined by those institutions that succeed in combining financial strength with technological intelligence. To that end, QLM will pave its way in exploring next-generation digital platforms, advanced data analytics, and AI-driven capabilities across the entire customer journey from intelligent underwriting and faster claims adjudication to predictive health insights, fraud detection, and personalized member engagement," he said.

Fahad al-Suwaidi, QLM chief executive officer, said its Q1 success was built on providing unparalleled value through innovation and a deep understanding of the local market.

"We are investing in digital solutions that ensure a seamless and efficient experience for every individual and corporation we serve. As we move through 2026, we remain dedicated to strengthening our position as Qatar's premier insurer by keeping the needs of our members at the core of our strategy," he said.

Gulf Times