(MENAFN) Net profit of the shareholders of Damaan Islamic Insurance's (Beema) reached USD10.97 million in 2014, a jump from USD8.23 million in 2013, The Peninsula Qatar reported.
According to the deputy chairman of the company, Beema made a gross contribution of USD69.69 million in 2014 against USD55.97 million in 2013, marking 25 percent increase.
Beema, the fully Shariah-compliant Closed Qatari Shareholding Insurance Company, was incorporated with a paid up capital of USD54.87 million. Among the founders of the company are Qatar Insurance Company with 25 percent, and Qatar Islamic Bank with 25 percent.
The company started with a gross contribution of USD9.05 million and managed to keep sturdy growth when after five years it achieved a gross contribution of USD69.69 million in 2014.
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