Damaan Islamic Insurance Company (beema) · QSE:BEMA
Damaan Islamic Insurance Company (beema) — FY2023 Earnings Presentation
12 slides from Damaan Islamic Insurance Company (beema)'s earnings presentation, Feb 7, 2024
Slide 1: FY 2023 Financial Results Presentation
Damaan Islamic Insurance Company – Beema (Q.P.S.C.) FY 2023 Financial Results Presentation
Slide 2: FY 2023 key financial performance highlights
FY 2023 key financial performance highlights Significantly enhanced shareholder value and nearly debt free capital structure Increase in gross Increase in gross written contributions from QAR 392.6m in FY 2022 to QAR 401.3m 1 written contributions in FY 2023, driven by a 6.4% increase in motor insur
Slide 3: Beema at a glance
Beema at a glance One of Qatar’s largest and most innovative providers of Takaful insurance Who we are Key figures One of Qatar’s leading Islamic takaful providers, established in 2009 with a share capital of QAR 200m A- A3 AM Best Financial Strength 2022 Moody’s IFSR credit Rating1 rating2 Operatin
Slide 4: Beema's key investment highlights
Beema’s key investment highlights Strong operational and financial performance – Well positioned to capitalize on the increasing demand in Islamic insurance solutions and growth opportunities in Qatar and the region Leading position within the Islamic insurance sector 1 Beema has been one of the lar
Slide 5: Beema's comprehensive service offerings
Beema’s comprehensive service offerings Wide variety of insurance coverage offered through multiple distribution channels Takaful insurance key features FY 2023 Gross written contributions Takaful & Health - Group Credit Life, Providing banks and other financial institutions protection against loan
Slide 6: Financial performance highlights (1/4)
Financial performance highlights (1/4) Strong results, with Gross Written Contributions growth and a significant 24.1% increase in Shareholders’ Net Profit during FY 2023 FY’s Gross written contributions (QARm) FY’s Shareholder’s net profit (QARm) and earnings per share 401 393 400 368 80 0.35 0.40
Slide 7: Financial performance highlights (2/4)
Financial performance highlights (2/4) Increase in net investment income due to timely and correct investment strategy Investments at fair value (QARm) Net investment income (QARm) 911 857 826 418 794 432 32 385 355 26 25 24 13 13 10 493 12 425 441 439 19 13 13 14 FY 2020 FY 2021 FY 2022 FY 2023 FY
Slide 8: Financial performance highlights (3/4)
Financial performance highlights (3/4) Continued healthy Solvency Ratio of 351% Loss, net acquisition and expense ratio Capital requirements and solvency ratio (QARm) 900 400% 351% 800 350% 77.9% 700 315% 298% 300% 300% 70.4% 71.5% 65.8% 600 23.1% 250% 16.1% 17.4% 14.1% 500 200% 400 534 16.0% 17.3%
Slide 9: Financial performance highlights (4/4)
Financial performance highlights (4/4) Increased Policyholders’ and Shareholders’ equity with a nearly debt free capital structure Policyholders’ and Shareholder’s equity (QARm) Murabaha financing (QARm) 655 288 583 566 Substantial 241 reduction in 501 Murabaha financing 175 184 505 116 447 461 418
Slide 10: Beema historical financial performance details
Beema historical financial performance details Key financial information highlights Selected Income Statement Items (QAR ‘000) Selected Balance Sheet Items (QAR ‘000) For the financial year ended For the financial year 31 December ended 31 December 2023 2022 2023 2022 Policyholder’s Income Statement
Slide 11: Beema listing and shareholding information
Beema listing and shareholding information Beema’s shares began trading on the Qatar Stock Exchange on 16 January 2023 General information Shareholding structure as of 31 December 2023 Damaan Islamic Insurance Company Qatar Islamic Bank Company name "Beema" 18.75% 25% Qatar Insurance Company QSE Tic
Slide 12: Important Information
Important Information This presentation has been prepared by Damaan Islamic Insurance Company “Beema” (Q.P.S.C.) (the “Company”) for informational purposes only. This presentation does not constitute an offer or invitation or solicitation of any offer to subscribe for or purchase any shares or other
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