Qatar Insurance Group (QIC Group or QIC) has reported a net profit of QAR 588 million for the first three quarters of 2025, marking a 12% increase from the QAR 525 million recorded during the same period in 2024.
The company’s board of directors, chaired by Sheikh Hamad bin Faisal Al Thani (pictured left), reviewed and approved the results at a meeting held on Oct. 28.
Sheikh Hamad bin Faisal Al Thani commented on the results, stating that the 23% year-on-year rise in net profit before Pillar II tax reflects the company’s ongoing strategy across its business segments.
He noted that QIC’s focus on its core markets in Qatar and the wider MENA region has contributed to its performance, while international operations, including activities at Lloyd’s of London, continue to play a role in diversifying earnings.
The group’s investment portfolio achieved a 5% return for the period.
Chief executive officer Salem Al Mannai (pictured right) highlighted the company’s expansion of products and services in Qatar and the MENA region, as well as targeted international growth through the Antares Lloyd’s Syndicate.
“Through 2025, QIC continued to expand its products and services to customers across Qatar and the MENA region,” he said.
Economic growth in the MENA region is expected to reach 2.6% in 2025, according to recent forecasts, with the GCC region projected to grow at 4.1%.
QIC’s strategy has involved shifting its underwriting portfolio toward profitable domestic and regional markets, reducing its exposure to less profitable international segments.
As a result, the share of gross written premiums (GWPs) from Qatar and MENA operations rose from 54% to 60% year on year, while international business declined to 40%.
The company continued to diversify its underwriting portfolio, with growth observed in personal lines, health, marine, and energy insurance.
QIC’s exposure to the UK motor market remains limited to reinsurance activities.
QIC’s investment portfolio remained stable, with assets under management totalling QAR 20.5 billion as of Sept. 30, 2025.
Investment and other income increased by 3% year on year, reaching QAR 746 million. The company reported a 5% return on investment for the period.
Net profit attributable to shareholders stood at QAR 573 million, and earnings per share increased by 14% to QAR 0.135.
During the reporting period, QIC introduced new products, including Qatar’s first school fees protection insurance and a personal cyber insurance policy.
The school fees protection product is designed to assist parents facing unforeseen circumstances that affect their ability to pay educational fees.
The cyber insurance product covers consumers against risks such as cyberattacks, online fraud, and identity theft.
QIC also enhanced its digital offerings, enabling customers to obtain car insurance immediately after vehicle inspections, either at company outlets or through the QIC App.
The company expanded the content available on its digital platform to help customers understand regulatory requirements related to vehicle registration.
QIC has submitted a proposal to establish a branch in Saudi Arabia, aiming to leverage anticipated market growth and regulatory reforms.
The company also continued its Summer Internship Programme, providing business experience to students in Qatar, and conducted training for senior management and key teams on artificial intelligence applications.
QIC has implemented an environmental, social, and governance (ESG) framework, which is overseen by a dedicated committee.
In May 2025, QIC received a provisional “AAA” ESG rating from MSCI ESG Research, making it the first insurer in the MENA region to achieve this distinction.
The company received several industry awards during the period, including “Insurer of the Year” in Qatar at the MENA II Awards and recognition for its digital platforms.
QIC Asset Management was also acknowledged for its expertise in fixed-income investing, and the company was listed among Qatar’s top brands by Brand Finance.
QIC continued its support for national events and cultural initiatives, serving as an official sponsor for the Katara International Hunting and Falcons Exhibition, the Katara International Arabian Horse Festival, the Build Your House Exhibition, and the Commercial Bank Qatar Masters.
These activities align with QIC’s commitment to supporting Qatar’s development and heritage.
