Chairman of the Board Sheikh Hamad bin Faisal Al Thani (left) and Group CEO Salem Al Mannai.
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 broadly in line with the prior-year period while absorbing conflict-related claims and reserving and higher claims costs.
The outcome reflects the strength and diversification of QIC’s underwriting portfolio, the quality of its balance sheet and reserves, and a disciplined risk-management framework built to withstand precisely this kind of shock. Double-digit growth in insurance revenue, up 14% to QR7.4bn together with continued premium growth and higher investment income, up 5.6% to QR 749 million largely offset the pressure the conflict placed on the insurance service result, underlining the consistency of the QIC’s diversified earnings base.
The insurance service result was QR336m slightly below the prior-year period, carrying the effect of claims and reserving associated with the conflict, while disciplined growth across the QIC’s core markets supported the top line.
Chairman of the Board, Sheikh Hamad bin Faisal Al Thani, said: “These results confirm the strength and consistency that define QIC. Through nine months of an exceptional and continuing event, QIC has sustained its earnings, safeguarded shareholder value, maintained a strong capital position and stayed the course on its strategic priorities. The Board is confident that QIC’s diversified franchise, prudent risk management and clear strategy will continue to deliver long-term value for our shareholders.”
Group CEO, Salem Al Mannai, said: “The first nine months of 2026 have tested our sector with an exceptional geopolitical event that is still unfolding, and QIC has met it with consistency, quarter after quarter. Disciplined underwriting and a high-quality investment portfolio have allowed us to absorb the impact on our insurance service result and higher claims costs while continuing to grow insurance revenue, Gross Written Premium and investment income. Our exposures are adequately reserved on an actuarial best-estimate basis, and we continue to monitor developments closely as the situation evolves.”
