QIC reports QR354mn net profit in H1
Qatar Insurance (QIC) reported a net profit attributable to shareholders worth QR354mn in the first six months of 2026.Insurance revenue rose 15% to QR4.8bn, reflecting the earned growth of QIC’s in-f...
Qatar Insurance (QIC) announced a net profit of QR354 million for the first half of 2026, representing a slight dip from the previous year, despite robust growth in its insurance revenue and investment income. Insurance earnings expanded by 15% to QR4.8 billion, driven by selective growth across domestic, regional, and international portfolios.
Gross written premiums, a key indicator of underwriting activity, climbed 4.3% to QR5.9 billion. However, insurance service results fell 8.4% to QR202 million, primarily due to claims and reserves related to a regional geopolitical conflict. Investment income increased by 2.8% to QR477 million, yielding a 5.3% return on investment.
Despite these challenges, QIC's chairman Sheikh Hamad bin Faisal al-Thani expressed confidence in the company's resilience and strategic direction, underscoring the importance of disciplined underwriting and robust risk management. Group CEO Salem al-Mannai highlighted the company's ability to maintain strong financial health and capitalize on its digital and international expansion initiatives, even in the face of external pressures.
QIC's capital position remains robust, supporting its capacity to navigate market uncertainties and deliver long-term value for shareholders.
Written by urgent.news from Gulf Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
