Qatar Insurance Company (QIC), the parent company of the Bermudian reinsurer Qatar Re, reported a profit of 182 million USD for the 2018 year.
The turnover increased from 3.2 billion USD in 2017 to 3.5 billion USD in 2018, that is an increase of 8%.
Despite the losses related to the intense catastrophic events recorded during second half of 2018, the combined ratio improved by 4.5 points. It stood at 101.3% against 105.8% in 2017.
The other entities of QIC group namely Qatar Re, Antares, QIC Europe Limited and Markerstudy achieved a total turnover of 2.7 billion USD, an evolution of 11%.
According to the 2017 ranking of AM Best, Qatar Re ranks henceforth 27th in the top 50 global reinsurers.
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