Qatar Insurance Company: Best Insurance Leadership GCC 2021
Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Since its inception, QIC has consistently navigated individuals and businesses through economic cycles by offering a diverse portfolio of personal (car, home, travel, boat, personal accident benefit) and commercial (energy, marine & aviation, property & commercial, medical & motor) lines of insurance, combining a broad-based distribution strategy with excellent service delivery. The group motto promises clients security, stability and strength.
Based on the proactive steps taken by its management, QIC demonstrated resilience by successfully navigating headwinds such as the COVID pandemic and natural catastrophes. Among management’s strategic steps were the highly successful hybrid capital raise of US$ 300 million in H1 2020 and the initial public offering of its subsidiary, QLM Life & Medical Insurance Company in Q4 2020.
Today QIC is the leading insurer in the MENA region. In terms of gross premiums, profitability and total assets, QIC is the largest insurance company in the MENA region. During the past decade, through a combination of organic and inorganic growth, QIC has grown from being a Middle East focused direct insurer, to a global insurance and reinsurance group with operations that spans Qatar, UAE, Oman, Kuwait, United Kingdom, Switzerland, Malta, Italy, Singapore, Bermuda and Gibraltar.
QIC is one of the highest rated insurers in the Gulf region with a rating of “A” from Standard & Poor’s and “A (Excellent)” from A.M. Best.
The CFI.co judging panel announces Qatar Insurance Company as the winner of the 2021 award for Best Insurance Leadership (GCC).
