Chairman of QIC Group, Sheikh Hamad bin Faisal bin Thani Jasim Al-Thani (left) and CEO of QIC Group, Salem Al Mannai.
Doha, Qatar: Qatar Insurance (QIC) the leading insurer in Qatar and the Middle East and North Africa (MENA) region, yesterday reported a net profit of QR217m for the first quarter (Q1) of 2026, a change of 6% from QR205m for the same period in 2025.
Following a meeting of the Board of Directors dated 30April 2026, which was presided over by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of QIC Group, the Board approved the financial results.
Sheikh Hamad bin Faisal Al Thani, Chairman of QIC Group, stated: “QIC’s financial results in Q1 2026confirm the resilience of QIC and its strategic direction. In a turbulent first quarter marked by the conflict in the Middle East and the closure of the Strait of Hormuz. QIC’s underwriting portfolio continued to generate consistent, stable and reliable returns due to the QIC’s robust diversification strategy of balancing our strong growth business generated in Qatar and the MENA region, with income from our international operations and our investment portfolio, which once again provided a strong contribution to QIC’s results in highly volatile financial markets. Our operations, particularly in Qatar and the MENA region, once again successfullyservedour policyholders, uninterrupted, in a challenging environment, benefiting from our advanced digital transformation and ecosystems.
Salem Al Mannai, Chief Executive Officer of QIC Group, said, “While the year started promising with declining inflation and strengthening growth, the open conflict between the USA, Israel and Iran and the closure of the Strait of Hormuz reversed these developments, severely affecting and threatening peoples’ life and business across the MENA region, Qatar, as well as the global economy.”
Mannai added, “Despite this challenging first quarter, QIC further expanded its products and services in Qatar, the MENA region with our presence in Dubai, Oman and Kuwait, and internationally through our Antares Lloyds Syndicate along with operations in Bermuda, Europe and Asia Pacific."
