Qatar Insurance: net result increase at end September 2023

Qatar Insurance Company (QIC) has recorded a net profit of 453 million QAR (123.5 million USD) at the end of September 2023, which represents a 445% increase compared to the same period in 2022.

The Qatari group's gross written premiums stood at 7 billion QAR (1.9 billion USD) in the first nine months of 2023, against 7.8 billion QAR (2.1 billion USD) as at 30 September 2022, dropping by 10%. Over the same period, underwriting in the local market and the MENA region was up by 14%, from 2.4 billion QAR (658.9 million USD) in 2022 to 2.7 billion QAR (736.4 million USD) a year later.

Founded in 1964, QIC operates directly or through subsidiaries in the United Arab Emirates, Oman, Kuwait, Europe, Bermuda and Singapore.