Beema converts to public shareholding company – The Peninsula

Beema converts to public shareholding company – The Peninsula

Doha: Damaan Islamic Insurance Company “Beema” (“Beema” or the “Company”) is pleased to announce the conclusion of its Extraordinary General Assembly held on the 30th of November 2022, which shareholders approved the Company’s application for conversion from a Qatari private shareholding company into a Qatari public shareholding company.

Following and subject to the conversion of the Company, Beema intends to undertake a direct listing on the Main Market of the Qatar Stock Exchange according to the direct listing mechanism, subject to obtaining all required regulatory approvals.

Beema is one of the leading Islamic insurance providers in the State of Qatar.

The Company was established in 2009 by its five founding shareholders, Qatar Islamic Bank QPSC, Qatar Insurance Company QPSC, Masraf Al Rayan QPSC, Barwa Real Estate Company QPSC and QInvest LLC.Beema offers a wide range of innovative takaful solutions to retail and corporate clients, both directly and through a diversified distribution network. The Company has a broad product portfolio, ranging from motor to individual life insurance services as well as takaful solutions for the aviation, marine and engineering industries and many other bespoke takaful services.

At the close of its financial year in 2021, Beema totaled QAR 368m in gross written contributions (“GWCs”). The