Qatar Insurance Company (QIC Group) has reported an increase of 17% year on year in gross written premiums (GWP) to QAR 5.7 billion in the first half of 2025, as it continued to enhance the risk diversification of its underwriting portfolio, growing its premiums in personal lines, health, marine and energy.
QIC stated that underwriting growth remained slow but stable through H1’25, but is expected to fall further through H2’25, and thereafter stabilise as supply chains shift and major economies respond to tariffs with increased support spending and monetary easing.
The group’s insurance service result hit QAR 221 million in H1’25. This performance is also attributed to the demand surge for QIC’s retail insurance ahead of the summer, as its motor exposure has already been strategically reduced – particularly in the UK due to supply chain challenges mainly relating to Brexit. As a part of its underwriting portfolio restructuring strategy, QIC now limits its exposure to UK Motor only as a reinsurer.
Investment and other income amounted to QAR 496 million, a 7% year-on-year increase. QIC reported a robust return on investment of 5.2%, compared to 4.7% in H1’24.
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All in all, QIC reported a net profit in H1’25 of QAR 383 million, a 6% rise from QAR 360 million in H1’24.
In the second quarter of 2025, the insurer also launched Qatar’s first-ever personal lines cyber insurance, to protect public consumers against financial losses from cyber attacks, online shopping fraud, credit card fraud, phishing scams, cyber extortion, identity theft and damage to connected devices and wearables from cyber risks.
Sheikh Hamad bin Faisal Al Thani, Chairman, QIC Group, commented, “QIC’s excellent H1 2025 financial results reflects its continued and consistent success across all of the Company’s operations. Against the challenging backdrop of global shocks and high uncertainty, QIC’s underwriting portfolio continues to benefit from long-term strategic rebalancing in favour of profitable business from our core markets in Qatar and the MENA region.
“QIC’s international business is also an important earnings contributor, and its high-quality investment portfolio continues to deliver solid returns. We are proud to excel in digital transformation, product innovation, operational efficiency and client-centricity, as evidenced by the investments, collaborations and initiatives implemented in H1 2025. QIC remains dedicated to excellence, sustainable growth and robust governance and risk management.”
Salem Al Mannai, Chief Executive Officer, QIC Group, added, “Through H1 2025, we expanded our products and services to customer segments across Qatar and the MENA region, whilst remaining committed to strategically seeking growth in international markets, including in emerging Asia and developing Africa, through our Antares Lloyds Syndicate, London.
“During this period, for example, we launched the first-ever personal lines cyber insurance in Qatar, invested in Insurtechstartups to reach new customer segments in regional and international markets, presented a proposal to establish a branch office in the Kingdom of Saudi Arabia, and further enhanced our car insurance offerings for motorists in Qatar, including through an exclusive partnership that expands the service provider network of the award-winning QIC App. We also attended and hosted industry events to drive insurance innovation and cement Doha’s position as a global centre for Insurtech and Fintech.”
He continued, “We are proud to support our core and international markets, and to differentiate through service excellence, dedicated ESG principles and by taking the lead in the digital transformation of the insurance industry. Combined with robust, astute risk management, these differentiators enable us to grow selectively and resiliently in a volatile world, and to operate at exceptional efficiency levels.
“And we are extremely proud to have received ongoing recognition for our operations – for example, in H1 2025, QIC was named Insurer of the Year in Qatar at the prestigious MENA II Awards, was recognised for driving innovation in the financial industry at the Google Cloud Summit Doha 2025, and became the first company in Qatar and only insurer in the MENA region to receive a provisional ESG ‘AAA’ ESG rating from MSCI ESG Research.”
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