Qatar Insurance

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Qatar Insurance Group (QIC)
HeadquartersDoha, Qatar
Key people
Salem Khalaf Al Mannai (CEO)
Sheikh Hamad bin Faisal Al Thani (Chairman)
Number of employees
125
Websiteqic-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

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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

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  • 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

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  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. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  10. ^ https://eservices.qfc.qa/QFCPublicRegister/PublicRegisterDetails.aspx?firmid=102417
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