Qatar Insurance

Qatar-based insurance company

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.
Find sources: "Qatar Insurance" – news · newspapers · books · scholar · JSTOR (July 2024) (Learn how and when to remove this message)

|

Qatar Insurance Group (QIC)Founded| 1964

|

Headquarters| Doha, Qatar

Key people

| Salem Khalaf Al Mannai (CEO)
Sheikh Hamad bin Faisal Al Thani (Chairman)

Number of employees

| 125
Website| qic-group.com

Qatar Insurance Group (QIC, QIC Group) is a Qatari insurance company, headquartered in Doha.[1][2] QIC Group was listed 73rd on Forbes Middle East top 100 companies in 2022[3] and 72nd on the Fortune 500 Arabia list for 2023.[4]

QIC was established in 1964 as the first domestic insurance company in Qatar.[5] The company has since expanded its operations to include various insurance lines. It operates in ten countries, including Qatar, Oman, Kuwait, the United Arab Emirates, and others.

## History

[edit]

Qatar Insurance Company (QIC) was established in 1964 with the involvement of the Qatari government and private investors.[6] It was one of the first insurance companies in Qatar. QIC expanded its operations to the United Arab Emirates, Oman, and Kuwait in subsequent years.[7] In 2008, the company initiated a global expansion under the name Qatar Insurance Group.[8]

QIC started focusing on developing its presence and operations in the European and Asian markets through the establishment of Qatar Reinsurance Company Limited (Qatar Re) in 2009,[9] and later on with the acquisition of Antares Holdings Limited together with its subsidiaries in 2014, a leading global specialist insurer and reinsurer operating in the Lloyd’s of London. In May 2019, Epicure Investment Management LLC (“EIM”) a regulated investment manager that is registered in the Qatar Financial Centre was established. Anoud technologies LLC is the Group’s tech arm and was established in 2020.[10]

The Company’s shares were first listed on the Doha Securities Market (now known as the Qatar Stock Exchange) in 1997. QIC Group has a diverse global investment portfolio, including insurance, reinsurance, insurtech, asset management, and real estate sectors. It offers a full range of personal lines of insurance including car, motorcycle, travel, home, boat, life & medical insurance, as well as commercial insurance, including property, commercial, marine, aviation, energy, and motor fleet insurance.[6]

## Awards

[edit]

* Mobile App of the Year , 2024, Qatar accolade at Insurance Asia Awards[11]
* Best travel insurance company in the Middle East, 2024, Global Banking & Finance Review Awards.[12]

## References

[edit]

1. ^ "QIC Group honours staff at long service award ceremony". thepeninsulaqatar.com. 2024-03-31. Retrieved 2024-07-24.
2. ^ Basit, Abdul. "Qatar Insurance launches new insurance service..." Khaleej Times. Retrieved 2024-07-24.
3. ^ Mughal, Waqar. "QIC Group - Top 100 Listed Companies In The Middle East 2022". Forbes Lists. Retrieved 2024-07-26.
4. ^ "Qatar Insurance reports 49.8% drop in net profit for 2023". fortunearabia.com. 2024-02-15. Retrieved 2024-07-26.
5. ^ Team, Doha News (2022-04-26). "Qatar Insurance Company inspires positive change within the community". Doha News | Qatar. Retrieved 2024-07-26.
6. ^ a b "Qatar Insurance Company S.A.Q.: Private Company Information - Businessweek". Bloomberg. 2016-03-04. Archived from the original on 2016-03-04. Retrieved 2024-07-28.
7. ^ https://s3-ap-southeast-1.amazonaws.com/s3-qicgroup/2008-financial-report.pdf, p 9
8. ^ https://www.gulf-times.com/story/684693/qic-group-reports-gross-written-premiums-of-qr122bn-in-2020
9. ^ "QATAR REINSURANCE COMPANY LIMITED, CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED DECEMBER 31, 2015" (PDF). bma.bm. 2016. Retrieved 2024-07-27.
10. ^ https://eservices.qfc.qa/QFCPublicRegister/PublicRegisterDetails.aspx?firmid=102417
11. ^ "QIC wins 'Mobile App of the Year in Qatar' accolade at Insurance Asia Awards 2024". Gulf Times. 2024-07-15. Retrieved 2024-07-24.
12. ^ Cuenca, Oliver. "QIC wins Middle East travel insurance award". ITIJ. Retrieved 2024-07-24.

## External links

[edit]

* Official website