Damaan Islamic Insurance Company (beema) · QSE:BEMA
Damaan Islamic Insurance Company (beema) — Q1 2024 Earnings Presentation
13 slides from Damaan Islamic Insurance Company (beema)'s earnings presentation, April 2024
Slide 1: Q1 2024 Financial Results Presentation
Damaan Islamic Insurance Company – Beema (Q.P.S.C.) Q1 2024 Financial Results Presentation
Slide 2: Q1 2024 key financial performance highlights
Q1 2024 key financial performance highlights Significantly enhanced shareholder value and achievement of debt free capital structure Increase in gross 1 written contributions From QAR 85 million in Q1 2023 to QAR 97 million in Q1 2024 (+14.0%) Strong increase in From QAR 13.7 million in Q1 2023 to Q
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 2023 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 Q1 2024 Gross written contributions Takaful & Health - Group Credit Life, Providing banks and other financial institutions protection against loan
Slide 6: Financial performance highlights (1/5)
Financial performance highlights (1/5) Gross Written Contributions growth, strongly supported by a surplus from Takaful operations Gross written contributions (QARm) Net underwriting results (QARm) 101 100 97 86 120 85 101 34 26 97 80 100 1 25 20 86 85 1 20 13 11 15 0 0 60 12 80 10 16 17 28 20 29 23
Slide 7: Financial performance highlights (2/5)
Financial performance highlights (2/5) Increase in income from Wakala fees driving a significant 18% YoY increase in Shareholders’ Net Profit Total income to Shareholders (QARm) Shareholder’s net profit (QARm) and earnings per share 40 35 31 18 0.08 0.09 30 26 28 0 16 0.08 2 0.07 0.07 0 14 0.07 1 2
Slide 8: Financial performance highlights (3/5)
Financial performance highlights (3/5) Stable investment income despite decline in investments held due to maturing of Sukuk holdings Investments at fair value (QARm) Net investment income (QARm) 921 847 839 426 8 421 395 744 7 7 335 4 3 5 3 495 426 444 2 409 4 4 4 3 Q1 2021 Q1 2022 Q1 2023 Q1 2024
Slide 9: Financial performance highlights (4/5)
Financial performance highlights (4/5) Continued healthy Solvency Ratio of 351% Loss, net acquisition and expense ratio Capital requirements and solvency ratio (QARm) 900 400% 351% 800 87.8% 350% 84.4% 700 315% 75.3% 298% 300% 300% 21.4% 20.2% 600 16.2% 62.9% 250% 500 19.3% 21.3% 20.6% 200% 16.7% 40
Slide 10: Financial performance highlights (5/5)
Financial performance highlights (5/5) Increased Policyholders’ and Shareholders’ equity with a financial debt free capital structure Policyholders’ and Shareholder’s equity (QARm) Murabaha financing (QARm) 631 276 564 536 237 Successful 490 219 transition into a debt- 161 free capital 487 117 struc
Slide 11: Beema historical financial performance details
Beema historical financial performance details Key financial information highlights Selected Income and Cash Flow Statement Items (QAR ‘000) Selected Balance Sheet Items (QAR ‘000) For the 3 months ended 31 March As at 31 March 2024 2023 2024 2023 Policyholder’s Income Statement Policyholder’s Balan
Slide 12: 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 March 2024 Damaan Islamic Insurance Company Qatar Islamic Bank Company name "Beema" 18.75% 25% Qatar Insurance Company QSE Ticker
Slide 13: 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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