Damaan Islamic Insurance Company (beema) · QSE:BEMA
Damaan Islamic Insurance Company (beema) — H1 2024 Earnings Presentation
15 slides from Damaan Islamic Insurance Company (beema)'s earnings presentation, Aug 1, 2024
Slide 1: H1 2024 Financial Results Presentation
Damaan Islamic Insurance Company – Beema (Q.P.S.C.) H1 2024 Financial Results Presentation
Slide 2: H1 2024 key financial performance highlights
H1 2024 key financial performance highlights Significant increase in Gross Written Contributions and Shareholders Net Profit Gross Written Contributions Shareholders’ Total net investment Total Murabaha Shareholders’ (“GWC”) net profit income financing equity QAR QAR QAR QAR QAR 240 mm 41 mm 15 mm 0
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 1 Sector leader in Qatar 2 Shari’a-compliant business model 3 Listed on the QSE Main Market ▪ Islamic insurance company established in ▪ Wakala / Mudarib Takaful model 2009 with a share capital of
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: Comprehensive service offerings
Comprehensive service offerings Wide variety of insurance coverage distributed through multiple, innovative channels Takaful insurance key features Takaful & Health Motor, Marine & Aviation Motor Aviation Pleasure Crafts Group Credit Life Group Medical Car Travel Marine 25% insurance insurance insur
Slide 6: Gross Written Contributions by operational segment
Gross Written Contributions (“GWC”) by operational segment 24% YoY growth in GWC reaching QAR 240 Mill in H1 2024 Gross written contributions (QAR Mill) H1 2024 – YoY changes: 240 +24% 215 3 1 194 43 190 29 1 1 27 57 +4% 28 55 50 55 +55% 130 137 111 111 +224% H1 2021 H1 2022 H1 2023 H1 2024 Takaful
Slide 7: Gross Written Contributions composition
Gross Written Contributions composition Improved net underwriting results Net underwriting results (QAR Mill) H1 2024 – YoY changes: Movement in technical reserves +180% 250 240 215 200 190 194 58 Re-Takaful share -7% 59 150 57 24 52 36 Net claims paid +0% 25 21 50 Net acquisition 100 42 45 50 cost
Slide 8: Shareholders' income
Shareholders’ income 16% YoY increase in total shareholders’ income, driven by a substantial 18% YoY increase in Wakala fees Total income to shareholders (QAR Mill) 9% 1% 9% Wakala fees +18% 9% 1% 11% Net income from + 16% YoY shareholders’ +2% H1 2023 investments H1 2024 QAR 61 mm QAR 71 mm Mudarib
Slide 9: Investment performance
Investment performance 4% YoY% increase in net investment income to QAR 15 Mill during H1 2024 Net investment income & investments held at fair value (QAR Mill) Investments at fair value Total Total Total Total 46% 46% 45% 50% QAR 50% QAR QAR QAR 54% 54% 55% 793 mm 852 mm 788 mm 756 mm 20 18 15 16 1
Slide 10: Shareholders' net profit
Shareholders’ net profit Shareholders’ net profit up by 22% YoY to reach QAR 41 Mill Shareholders’ net profit (QAR Mill) H1 2024 – YoY changes: 45 0.25 0.20 40 35 0.17 0.20 0.16 Growth in net 30 25 0.12 0.15 profit & EPS +22% 20 41 0.10 15 32 33 EPS QAR 0.20 25 10 0.05 5 0 0.00 H1 2021 H1 2022 H1 20
Slide 11: Capital structure
Capital structure Beema maintained a strong capital structure Policyholders’ and Shareholder’s equity (QAR Mill) Murabaha financing (QAR Mill) 656 Shareholders’ +10% equity 209 592 198 Successful transition into a Policyholders’ +15% debt-free capital equity structure as of 128 99 H1 2024 512 467 22
Slide 12: Key ratios and capital adequacy
Key ratios and capital adequacy Marginally increased loss and combined ratios despite high inflation. Healthy solvency maintained Loss, net acquisition & expense ratio Capital requirements & solvency ratio (QAR Mill) 900 400% 351% 800 82.9% 350% 80.6% 73.5% 700 315% 69.5% 19.4% 298% 300% 300% 20.7%
Slide 13: Beema historical financial performance details
Beema historical financial performance details Key financial information highlights Selected Income and Cash Flow Statement Items (QAR Mill) Selected Balance Sheet Items (QAR Mill) For the 6 months ended 30 June As at 30 As at 31 2024 2023 June December Policyholder’s Income Statement 2024 2023 Gros
Slide 14: 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 Damaan Islamic Insurance Company Qatar Islamic Bank Company name "Beema" 18.75% 25% Qatar Insurance Company QSE Ticker BEMA Masraf Al Raya
Slide 15: 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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