Latest news with #SheikhSaoud
Zawya
6 days ago
- Business
- Zawya
Qatar: QLM reports $198.43mln in insurance revenue
Doha, Qatar: Qatar's leading life and medical insurer, QLM Life & Medical Insurance Company QPSC, announced its financial results for the six-month period ended 30 June 2025. Insurance revenue for the period stood at QR722.3m, compared to QR574.4m in the same period last year, reflecting an increase of 26 percent. Commenting on the results, Sheikh Saoud bin Khalid bin Hamad Al-Thani, Chairman of QLM, said: 'At the heart of our work is the trust we earn every day. We are dedicated to a future where our members' well-being is not just a goal but a lived reality, driven by the synergy of our innovative platforms and the human insight of our experts. This steadfast commitment is the foundation of our partnerships, cementing our role as a trusted steward for our members and a vital ally for our stakeholders.' The company reported a net profit of QR42.6m for the period ending 30 June 2025, compared to QR42.1m for the same period in 2024. Earnings per share was stable and stood at QR0.12 in Q2 2025, as compared to QR0.12 in Q2 2024. Net investment and other income grew by 16 percent and stood at QR27.8m, as against QR23.9m in Q2 2024. Fahad Al-Suwaidi, CEO of QLM, added: 'Central to our mission is a profound commitment to our members' well-being. We are fundamentally reshaping the landscape of insurance by strategically fusing cutting-edge technology with proactive wellness solutions. Our advanced platforms don't simply offer protection; they are intelligent systems designed to anticipate and prevent risks, creating a new standard of security for those we serve. This commitment solidifies our position as a powerful force for prevention and an unwavering guardian of health, cementing our role as a forward-thinking partner for our members and stakeholders alike.' QLM is a publicly listed Qatari company specialising in life and medical insurance solutions and aim at providing best-in-class service to its clients, with a unique value proposition. The Company's vision is to continuously provide outstanding healthcare services, by becoming the most trusted healthcare partner in Qatar and beyond, following a path of continued success in health insurance. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. ( The Peninsula Newspaper
Zawya
6 days ago
- Business
- Zawya
QLM reports 26% surge in insurance revenue in H1 2025
QLM Life & Medical Insurance Company (QLM), Qatar's leading provider of life and medical insurance solutions, has announced robust financial results for the first half (H1) of 2025, with insurance revenue climbing 26 percent year-on-year to QR722.3 million from QR574.4 million in the same period of 2024. The company recorded a net profit of QR42.6 million for the six-month period ending 30 June 2025, marginally higher than the QR42.1 million reported a year earlier. Earnings per share remained stable at QR0.12. Net investment and other income grew by 16 percent to QR27.8 million, compared with QR23.9 million in H1 2024. QLM Chairman Sheikh Saoud bin Khalid bin Hamad Al Thani said the company's success continues to be underpinned by its unwavering commitment to the health and trust of its members. Sheikh Saoud said, 'At the heart of our work is the trust we earn every day. We are dedicated to a future where our members' well-being is not just a goal but a lived reality, driven by the synergy of our innovative platforms and the human insight of our experts. This steadfast commitment is the foundation of our partnerships, cementing our role as a trusted steward for our members and a vital ally for our stakeholders.' Highlighting QLM's forward-looking strategy, QLM CEO Fahad Al Suwaidi emphasised the company's dual focus on cutting-edge technology and proactive wellness initiatives. 'We are fundamentally reshaping the landscape of insurance by strategically fusing advanced digital platforms with comprehensive wellness solutions,' Al Suwaidi said. 'Our systems do not simply provide protection; they are intelligent tools designed to anticipate and prevent risks, setting a new benchmark for health security. This commitment strengthens our role as a powerful force for prevention and a trusted partner for our members and stakeholders alike,' he said. QLM has invested heavily in digital transformation, enhancing member access to healthcare services through streamlined claims processing, telemedicine solutions, and wellness-focused programs. The company's personalised insurance products, combined with predictive analytics, aim to provide early health interventions while optimising costs for both members and corporate clients. As a publicly listed Qatari company, QLM continues to consolidate its position as the country's premier life and medical insurer, offering tailored coverage solutions for individuals, families, and businesses. The company's vision is to be the most trusted healthcare partner in Qatar and the wider region, consistently delivering exceptional service and value. With strong growth in revenue and continued investment in technology and preventive health strategies, QLM is positioned to build on its record of stability, innovation, and member-centric service in the years ahead. © Copyright Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
12-06-2025
- Politics
- Zawya
Qatar's cabinet nod to law on volunteering in GCC
Doha, Qatar: Deputy Prime Minister and Minister of State for Defense Affairs HE Sheikh Saoud bin Abdulrahman bin Hassan Al-Thani chaired the Cabinet's regular meeting held on Wednesday at the Amiri Diwan. Following the meeting, Minister of Justice and Minister of State for Cabinet Affairs HE Ibrahim bin Ali Al Mohannadi stated the following: The Cabinet reviewed the topics on its agenda. It approved - in principle - a draft law issuing a unified system (law) for volunteering work in the Gulf Cooperation Council countries, and a draft of its executive regulations. The two drafts' preparation comes within the framework of the Ministry of Social Development and Family's strategy, which aims to enhance social responsibility, spread the culture of volunteering in society, organize volunteering work, ensure its practice with freedom and choice, preserve the rights of volunteers and volunteering organizations, and define the duties of each of them. The Cabinet also approved the draft Cabinet Decision to add a member to the Steering Committee of the Qatar Internet Exchange Point project, established by Decision No. (24) of 2018. Prepared by the Communications Regulatory Authority, this draft aims to connect financial institutions subject to the supervision of the Qatar Central Bank to the Internet Exchange Point, in a way that ensures business continuity in the financial sector and supports its vital requirements. The Cabinet approved a draft agreement between the Government of the State of Qatar and the United Nations Institute for Training and Research (UNITAR) regarding the establishment and financing of a regional office for UNITAR in the State of Qatar; a draft core contribution agreement between the Qatar Fund for Development of the State of Qatar and the United Nations World Food Program for multilateral funding for the years 2025-2026; a draft letter of intent between the Ministry of Foreign Affairs of the State of Qatar and the Federal Department of Foreign Affairs of the Swiss Confederation in the field of mediation and facilitation; a draft memorandum of understanding in the field of Islamic jurisprudence and Islamic affairs between the Ministry of Endowments and Islamic Affairs of the State of Qatar and the International Islamic Fiqh Academy of the Organization of Islamic Cooperation; and a draft air services agreement between the Government of the State of Qatar and the Government of the Republic of Nauru. The Cabinet concluded the weekly meeting by reviewing a report on the outcomes of the participation of Qatar's delegation, headed by HE the Minister of Endowments and Islamic Affairs, in the 16th International Economic Forum "Russia-Islamic World: Kazan Forum' (Republic of Tatarstan - May 2025), regarding which it took the appropriate decision. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
21-05-2025
- Business
- Reuters
Kuwait sovereign wealth fund head says investors reduce US exposure at their 'own risk'
DOHA, May 21 (Reuters) - The head of the Kuwait Investment Authority (KIA), which manages almost $1 trillion in assets, said the sovereign wealth fund is committed to investing in the U.S. and that investors cut allocations to U.S. assets at their own risk. Some global investors have ditched U.S. assets in recent weeks on fears that U.S. President Donald Trump's overhaul of global trade may hurt the U.S. economy, and could cause deeper long-term damage. The trend looks set to continue given a record number of managers said they planed to keep cutting their exposure to U.S. assets, according to BofA research. Oil-rich Kuwait has been investing in the U.S. market for a "long time" and that "won't change", KIA Managing Director Sheikh Saoud Salem Abdulaziz Al-Sabah said at an investment conference in the Qatari capital on Wednesday. "I would say it very bluntly, underweight America at your own risk," he said. Last week, Moody's downgraded the U.S. sovereign credit rating by one notch citing concerns about the nation's growing $36 trillion debt pile, which could make investors more cautious and drive up borrowing costs across the economy. "They (investors) are merely looking at equity markets, but they're not taking into fact the U.S. has the largest fixed income market, the U.S. has the largest private equity market, the real estate market, infrastructure and credit," Al-Sabah said. "I think the U.S. has the breadth and depth to sustain its exceptionalism and it has the rule of law as well," he said.
Bloomberg
21-05-2025
- Business
- Bloomberg
Kuwait Investment Authority: Underweight US at Own Risk
Sheikh Saoud Salem Abdulaziz Al-Sabah, Kuwait Investment Authority managing director, discusses America as an investment destination. "I think the US has the breadth and depth to sustain its exceptionalism," he tells Bloomberg's Stephanie Flanders at the Qatar Economic Forum 2025, powered by Bloomberg. (Source: Bloomberg)
