Magazine date:
Oct 2018 Qatar Insurance Company (QIC) posted, as of September 30th, 2018, a net profit of 130 million USD against 85 million USD a year earlier. Gross written premiums for the first nine months of the year amounted to 2.6 billion USD, an increase of 6% compared with the same period in 2017.
The combined ratio was set at 102% at the end of September 2018, an improvement of 6.2 points compared to that recorded as of September 30, 2017.
The performance of the Qatari group was impacted by the natural catastrophes that took place during the third quarter of 2018 and by additional reserves related to former contracts whose business was discontinued in the first quarter of the year.
Read also | Insurance companies in Qatar [4]