Qatar Insurance Group (QIC)
- Date of creation: 1964, Doha, Qatar
- Classes of business: Life and non-life insurance, reinsurance, funds management, ...
- Rating:
- Standard & Poor’s : A / Negative
- A.M Best : A / Negative
- Regional and international structures:
More than 35 entities in 11 countries in Europe, Asia, the Middle East and North America.
Qatar Insurance Group in 2021
|
Share capital | 892 135 000 USD |
Turnover | 3 454 519 000 USD |
Assets | 11 934 254 000 USD |
Shareholder’s equity | 2 326 655 000 USD |
Net result | 172 167 000 USD |
Net non-life loss ratio | 68.81% |
Net non-life management expenses ratio | 34.4% |
Net non-life combined ratio | 103.21% |
Management
Khalifa A. Al Subaey | Chairman of the Board of Directors & Managing Director |
Salem Khalaf Al Mannai | Group CEO |
Varghese David | Group Chief Financial Officer (CFO) |
C. M. Unnikrishnan | Deputy CEO - MENA |
Ahmed El Tabbakh | Deputy CEO - international affairs |
Mark Graham | Group Chief Risk Officer (CRO) |
Chirag Doshi | Group Chief Investment Officer |
Shareholding (31/12/2021)
Shareholders | Shares |
Government of Qatar | 14.11% |
Board of Directors | 8.91% |
The Royal Family of Qatar | 12.62% |
Foreign institutional investors | 7.63% |
Others | 56.73% |
Qatar Insurance Group : main technical highlights
Figures in thousands USDHighlights | 2017 | 2018 | 2019 | 2020 | 2021 |
---|---|---|---|---|---|
Gross written premiums | 3 179 210 | 3 460 932 | 3 520 697 | 3 324 728 | 3 454 519 |
Gross non-life written premiums | 2 811 117 | 3 102 324 | 3 159 027 | 3 194 077 | 3 342 413 |
Gross life and health written premiums | 368 093 | 358 608 | 361 670 | 130 651 | 112 106 |
Net written premiums | 2 604 170 | 2 967 623 | 3 042 506 | 2 221 845 | 2 323 313 |
Net non-life written premiums | 2 256 536 | 2 635 551 | 2 707 041 | 2 159 239 | 2 222 793 |
Net earned premiums | 2 434 746 | 3 115 036 | 2 969 380 | 2 430 060 | 2 362 738 |
Net non-life earned premiums | 2 081 684 | 2 782 960 | 2 650 456 | 2 360 054 | 2 275 933 |
Net non-life incurred losses | 1 629 756 | 1 862 547 | 1 807 721 | 1 946 300 | 1 566 132 |
Non-life management expenses (1) | 654 395 | 898 723 | 950 171 | 723 585 | 764 566 |
Net non-life loss ratio (2) | 78.29% | 66.93% | 68.20% | 82.47% | 68.81% |
Management expenses ratio (3) | 29.00% | 34.10% | 35.10% | 33.51% | 34.40% |
Net non-life combined ratio(4) | 107.29% | 101.03% | 103.30% | 115.98% | 103.21% |
Net result | 115 513 | 182 347 | 183 918 | 34 352 | 172 167 |
(1)General and administrative expenses concern the group' s total activity.
(2) Net non-life loss ratio = non-life incurred losses / net non-life earned premiums.
(3) Net non-life management expenses ratio = management expenses / Net non-life reinsurance written premiums.
(4) Net non-life combined ratio = net non-life loss ratio + net non-life management expenses ratio.
Qatar Insurance Group : turnover breakdown per class of business
Figures in thousands USDBranche | 2017 | 2018 | 2019 | 2020 | 2021 | Parts 2021 |
---|---|---|---|---|---|---|
Property damage and accidents | 2 522 175 | 2 862 464 | 2 907 158 | 2 928 761 | 3 099 459 | 89.72% |
Marine and aviation | 288 942 | 239 860 | 251 869 | 265 316 | 242 954 | 7.03% |
Total non-life | 2 811 117 | 3 102 324 | 3 159 027 | 3 194 077 | 3 342 413 | 96.75% |
Life and health | 368 093 | 358 608 | 361 670 | 130 651 | 112 106 | 3.25% |
Grand total | 3 179 210 | 3 460 932 | 3 520 697 | 3 324 728 | 3 454 519 | 100% |
Qatar Insurance Group : turnover breakdown by area of activity
Figures in thousands USD2017 | 2018 | 2019 | 2020 | 2021 | 2021 shares | |
---|---|---|---|---|---|---|
International market | 2 744 480 | 2 986 465 | 3 005 511 | 2 998 071 | 3 090 286 | 89.46% |
Qatar | 434 730 | 474 467 | 515 186 | 326 657 | 364 233 | 10.54% |
Total | 3 179 210 | 3 460 932 | 3 520 697 | 3 324 728 | 3 454 519 | 100% |
Qatar Insurance Group : net written premiums per class of business
Figures in thousands USDClass of business | 2017 | 2018 | 2019 | 2020 | 2021 | 2020-2021 evolution (1) |
---|---|---|---|---|---|---|
Property damage and accidents | 2 043 924 | 2 448 471 | 2 516 480 | 1 973 925 | 2 056 637 | 3.93% |
Marine and aviation | 212 612 | 187 080 | 190 561 | 185 314 | 166 156 | -10.56% |
Total non-life | 2 256 536 | 2 635 551 | 2 707 041 | 2 159 239 | 2 222 793 | 2.69% |
Life and health | 347 634 | 332 072 | 335 465 | 62 606 | 100 520 | 60.17% |
Grand total | 2 604 170 | 2 967 623 | 3 042 506 | 2 221 845 | 2 323 313 | 4.31% |
Qatar Insurance Group : net earned premiums per class of business
Figures in thousands USDClass of business | 2017 | 2018 | 2019 | 2020 | 2021 | 2020-2021 evolution (1) |
---|---|---|---|---|---|---|
Property damage and accidents | 1 864 255 | 2 573 758 | 2 449 858 | 2 171 152 | 2 108 742 | -3.11% |
Marine and aviation | 217 429 | 209 202 | 200 598 | 188 902 | 167 191 | -11.71% |
Total non-life | 2 081 684 | 2 782 960 | 2 650 456 | 2 360 054 | 2 275 933 | -3.80% |
Life and health | 353 062 | 332 076 | 318 924 | 70 006 | 86 805 | 23.69% |
Grand total | 2 434 746 | 3 115 036 | 2 969 380 | 2 430 060 | 2 362 738 | -3.01% |
(1) Evolution in local currency
Exchange rate as at 31/12/2021 : 1 QAR = 0.27315 USD ; 31/12/2020 : 1 QAR = 0.27248 USD ; 31/12/2019 : 1 QAR = 0.27413 USD; at 31/12/2018 1 QAR = 0.27455 USD; at 31/12/2017 : 1 QAR = 0.27269 USD
Qatar Insurance Group : incurred losses per non-life class of business
Figures in thousands USDClass of business | 2017 | 2018 | 2019 | 2020 | 2021 | 2020-2021 evolution (1) |
---|---|---|---|---|---|---|
Property damage and accidents | 1 433 093 | 1 685 744 | 1 645 731 | 1 846 782 | 1 468 436 | -20.68% |
Marine and aviation | 196 663 | 176 803 | 161 990 | 99 518 | 97 696 | -2.07% |
Total non-life | 1 629 756 | 1 862 547 | 1 807 721 | 1 946 300 | 1 566 132 | -19.73% |
(1) Evolution in local currency
Qatar Insurance Group : net loss ratio per non-life class of business
Figures in thousands USDClass of business | 2017 | 2018 | 2019 | 2020 | 2021 |
---|---|---|---|---|---|
Property damage and accidents | 76.87% | 65.50% | 67.18% | 85.06% | 69.64% |
Marine and aviation | 90.45% | 84.51% | 80.75% | 52.68% | 58.43% |
Total non-life | 78.29% | 66.93% | 68.20% | 82.47% | 68.81% |
Main entities of the QIC group
Company | Country | Stakes | CEO | Activity | Branches |
---|---|---|---|---|---|
QIC, parent company of the group | Qatar | 100% | Michael van der Straaten | Insurance, reinsurance, services | More than 35 entities |
Qatar Re | Bermuda | 100% | Michael van der Straaten | Reinsurance | Switzerland United Kingdom |
QIC Europe Ltd | Malta | 100% | Pantelis Koulovasilopoulos | Insurance | United Kingdom |
QIC Kuwait | Kuwait | 82.04% | Hassan Al-Jaidah | Insurance | - |
QIC Oman | Oman | 58.02% | Hassan Al-Lawati | Insurance | - |
QIC UAE | UAE | - | Ilango Thiyagarajan | Insurance | - |
Antares Underwriting | United Kingdom | 100% | Mark Graham | Insurance/reinsurance | Singapore China |
Markerstudy Insurance West Bay Insurance | Gibraltar | 100% | Dimitris Papachristou | Insurance | - |
Qatar Insurance Group : Contact
Head office | Qatar Insurance Company, Tamin Street, West Bay PO Box: 666 Doha, Qatar |
Phone | +974 44962222 |
Fax | +974 44831569 |
info [at] qicgroup [dot] com [dot] qa / qatarins [at] qic [dot] com [dot] qa | |
Website |
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Tue, 21/06/2022 - 15:30
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