QIC posts net profit of QR562m for first nine-month period
<p>Doha, Qatar: Qatar Insurance (QIC), the leading insurer in Qatar and one of the largest across the Middle East and North Africa, reported a resilient performance for the first nine months of 2026, with net profit of QR562m. QIC sustained its earnings through three quarters of a continuing regional geopolitical conflict, an event without recent precedent for the sector, holding net profit…
Doha, Qatar - Qatar Insurance (QIC), the dominant insurer in Qatar and a major player in the Middle East and North Africa, announced a robust financial performance for the first nine months of 2026, with a net profit of QR562 million. Despite the ongoing regional conflict, QIC maintained its earnings, largely due to a diversified underwriting portfolio, a solid balance sheet, and reserves.
The company's revenue grew by 14% to QR7.4 billion, driven by a 14% rise in insurance revenue and continued premium growth. Higher investment income, up 5.6% to QR 749 million, further bolstered the financial results. These factors helped offset the pressure on the insurance service result from claims and reserving related to the conflict.
Chairman Sheikh Hamad bin Faisal Al Thani emphasized QIC's resilience and consistency, stating that the company has safeguarded shareholder value and maintained a strong capital position. Group CEO Salem Al Mannai highlighted the company's ability to absorb the impact of the conflict while continuing to grow insurance revenue, gross written premium, and investment income.
He noted that QIC's exposures are adequatly reserved on an actuarial best-estimate basis and that the company will continue to monitor developments closely.
Written by urgent.news from The Peninsula Qatar Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
