Qatar Insurance posts 14% revenue rise, steady profit
Qatar Insurance (QIC) reported a 14% rise in insurance revenue to QR 7.4 billion for the first nine months of 2026, while net profit reached QR 562 million. The results cover a period marked by an ongoing regional geopolitical conflict.
The insurer’s earnings remained close to the prior-year level despite absorbing conflict-related claims and higher reserving costs. Net profit attributable to shareholders was QR 550 million, a modest dip from the same period last year.
Revenue Growth and Underwriting Performance
Gross written premium grew 9% to QR 8.5 billion, driven by selective expansion in domestic, regional and international markets.
Insurance service result fell 4.7% to QR 336 million, a narrower decline than at the six-month mark. The shortfall is linked to claims and reserving related to the regional geopolitical conflict.
Excluding the conflict, the underlying underwriting performance stayed resilient, showing that core portfolio discipline held up amid softer global reinsurance pricing. QIC maintained its underwriting standards even as reinsurance markets softened.
Investment income rose 5.6% to QR 749 million, boosted by a one-off gain from selling a 13.75% stake in Beema. Without that transaction, investment returns were broadly flat year over year.
While the conflict added pressure on the insurance service result, higher premium volume and stable investment earnings offset most of the impact. Earnings per share were reported at QR 0.104.
QIC’s capital and solvency ratios stayed robust, supporting its financial-strength ratings. The firm’s balance sheet depth allowed it to absorb raised claims without breaching regulatory capital thresholds.
Strategic and Digital Initiatives
In the third quarter, QIC launched QIC Market, a digital ecosystem integrated into its mobile app. The service brings every stage of buying and selling a vehicle into a single interface through partnerships with official dealerships and verified private sellers, alongside insurance, repairs and detailing from the wider ecosystem.
QIC also added a driving-test simulator and an interactive “Stories” feature to improve insurance literacy among app users. These tools contributed to the platform being named “Digital Insurance Initiative of the Year in Qatar.”
QIC strengthened its partnership with Africa Specialty Risks (ASR) to expand its footprint in African and developing markets. The collaboration enhances QIC’s specialty underwriting capacity, including cyber-war coverage backed by Antares Syndicate 1274.
During the summer, QIC completed its first AI-focused internship program, aimed at nurturing regional talent in emerging technologies. The initiative aligns with QIC’s broader AI strategy and talent development goals.
Conflict-Related Underwriting Impact
Specialty lines written outside Qatar absorbed most of the conflict-related exposure, including marine, political-violence and cyber-war cover.
Ultimate loss figures continue to evolve as claims develop, prompting QIC to monitor the situation closely and adjust provisions as necessary.
Board Chairman’s Statement and Company Overview
Sheikh Hamad bin Faisal Al Thani, Chairman of the Board, 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.”
Qatar Insurance (QIC) is leading insurer in Qatar and one of largest insurers in Middle East and North Africa, offering insurance and reinsurance across personal, commercial and specialty lines. Founded in 1964 and listed on Qatar Stock Exchange (ticker QATI), QIC serves Qatar and markets through subsidiaries and branches.
QIC’s digital ecosystem continued to expand, adding integrated solutions for seasonal demands and maintaining high rankings on major app stores.
