Qatar Insurance Company (QIC) has announced a 23% year-on-year increase in net profit before global tax for the first nine months of 2025, reaching QR645 million, up from QR524 million in the same period last year. Net profit after tax also rose by 12%, amounting to QR588 million, reflecting the company’s robust operational and financial performance despite challenging global market conditions.
The company’s Board of Directors, chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, approved the results during a meeting on 28 October 2025. QIC attributed its strong performance to the resilience of its business model, disciplined risk management, and a strategic focus on profitable markets.
Gross written premiums increased by 9% to QR7.9 billion, driven by significant growth in Qatar and the broader MENA region. Insurance service results stood at QR353 million, while investment and other income grew by 3% to QR746 million. Earnings per share rose to QR0.135 from QR0.118 in the same period last year, supported by improved underwriting practices and cost control.
QIC credited the improved results to its strategic rebalancing towards high-growth regional markets and streamlining of its international operations. Domestic and regional premiums now represent 60% of total gross written premiums, up from 54% in 2024, while international operations account for 40%. This shift has contributed to enhanced profitability and improved risk-adjusted returns.
Sheikh Hamad bin Faisal Al Thani praised the company’s performance, highlighting the effectiveness of QIC’s strategy and the dedication of its workforce. “Our focus on innovation, client-centric solutions, and robust governance has allowed us to navigate global uncertainties with confidence. By rebalancing our portfolio towards growth markets and maintaining a disciplined investment strategy, QIC continues to deliver sustainable and profitable growth,” he said.
QIC has continued to lead in insurance innovation and digital transformation. In 2025, the company launched several market-first products, including Qatar’s first personal lines school fee protection insurance and cyber insurance for individuals. The school fee protection plan safeguards parents against events such as involuntary job loss, permanent disability, or accidental death, while the cyber policy protects clients from online fraud and digital risks.
The company also upgraded its digital services, including enhancements to the QIC App, which now offers on-the-spot vehicle insurance coverage at inspection centres and guides customers through the “QIC Reads” feature. These initiatives reflect QIC’s ongoing commitment to simplifying customer experiences and leveraging technology to expand its market reach.
Chief Executive Officer Salem Al Mannai underscored the company’s performance, which he said was supported by innovation and disciplined expansion. “Throughout 2025, QIC has reinforced its leadership in digital transformation, anticipating the evolving needs of clients and delivering value through technology. Our strategic growth in Asia and Africa, combined with our strong domestic base, ensures we continue to drive sustainable value for our shareholders,” he said.
QIC’s investment portfolio also contributed significantly to earnings, delivering a 5% return for the period, slightly above the 4.9% achieved in the previous year. The insurer said its portfolio is well-diversified and managed with a strong focus on quality and risk control. Net profit attributable to shareholders stood at QR573 million.
The company’s insurance service results of QR353 million reflect the success of its short-tail premium strategy and operational efficiency. QIC’s disciplined approach to underwriting and expense management has continued to support stable earnings despite shifting market dynamics.
As part of its GCC growth strategy, QIC announced plans to establish a branch in Saudi Arabia, one of the region’s fastest-growing insurance markets. With the Saudi market projected to reach SAR 105.3 billion in gross written premiums by 2029, growing at a compound annual rate of 8.9%, the proposed branch aims to leverage the Kingdom’s regulatory reforms, infrastructure development, and alignment with Saudi Vision 2030 to drive regional expansion. This move complements QIC’s focus on diversification and long-term profitability across the Gulf.
QIC reaffirmed its commitment to strengthening Qatar’s position as a regional insurance hub, stating that it will continue to invest in digital technologies, customer engagement, and regional market development to ensure sustained profitability and growth in an evolving financial landscape.