Qatar Insurance Group (QIC)
Qatar Insurance Group (QIC) is a publicly listed composite insurer founded in 1964 and headquartered in Doha, offering personal, commercial, and reinsurance products across Qatar, the GCC, and select international markets through subsidiaries including Qatar Re, Antares, and QIC Europe.
- Company typePublic
- Founded1964
- HeadquartersDoha, Qatar
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Qatar Insurance Group (QIC) does
Qatar Insurance Group (QIC) is a publicly listed composite insurer founded in 1964 as the first domestic insurance company in Qatar, headquartered in Doha and operating across the GCC, broader MENA, and select international markets including Bermuda (Qatar Re), Lloyd's (Antares Global and Antares Re), and Europe (QIC Europe Limited). QIC serves retail customers through personal lines (car, motorcycle, travel, home, boat, life & medical) distributed via the qic.online platform, branches, and self-service kiosks, and corporate clients through commercial lines (property & commercial, marine & aviation, energy, motor fleet), with international reinsurance accounting for approximately 75-77% of total gross written premiums. The group holds A- financial strength ratings from both S&P and A.M. Best, a market capitalization exceeding QAR 7 billion on the Qatar Stock Exchange, and reported FY2018 gross written premiums of QAR 12.6 billion (+8% YoY) with consolidated net profit of QAR 664 million.
QIC generates revenue primarily through insurance premiums across personal and commercial lines, supplemented by investment income from a portfolio managed by QIC Asset Management that has been independently recognized as a top investment manager in MENA for six consecutive years. The company's go-to-market combines direct-to-consumer channels (qic.online digital portal, mobile app, branches, kiosks) with B2B distribution, including embedded insurance partnerships with insurtech firms such as MIC Global for its MiIncome income protection product across the GCC and an MoU with Ooredoo Group for integrated insurance offerings via telecom channels. Digital infrastructure is centralized under a Digital Hub overseen by a Group Chief Digital & AI Officer, with recent AI capability development evidenced by an inaugural agentic AI internship programme and recognition across multiple regional digital insurance awards.
QIC's strategic posture is pivoting toward digital transformation, insurtech partnerships, and regional expansion, with strategic minority investments announced in February 2025 in three insurtech startups (Jaguar Transit, MIC Global, Digital Petroleum) targeting growth across GCC, Asia, and Africa. Governance is anchored by a board chaired by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani with significant Al Thani family representation, while the executive team is led by Group CEO Salem Khalaf Al Mannai (appointed 2020), a 25-year QIC veteran, alongside a refreshed C-suite including a Group Chief Digital & AI Officer and a CFO who has led IFRS 17 implementation and finance AI automation.
Qatar Insurance Group (QIC) firmographics
Firmographics- Name
- Qatar Insurance Group (QIC)
- Legal name
- Qatar Insurance Company Q.S.P.C.
- Website
- https://qic-group.com
- Company type
- Public
- Founded year
- 1964
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Qatar Insurance Group (QIC) is a publicly listed composite insurer founded in 1964 and headquartered in Doha, offering personal, commercial, and reinsurance products across Qatar, the GCC, and select international markets through subsidiaries including Qatar Re, Antares, and QIC Europe.
- Ownership category
- akta.pro rank
Qatar Insurance Group (QIC) industry classification
Industry- Product category
- General Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
- akta.pro secondary industry
- Embedded Insurance Distribution & Premium Financing (FSAGALAF)
Keywords
Where Qatar Insurance Group (QIC) is headquartered
LocationHeadquarters
- HQ city
- Doha
- HQ country
- Qatar
- HQ region
- Middle East
Offices1 record
Markets served
Qatar Insurance Group (QIC) business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Insurance Premiums: QIC generates revenue primarily through insurance premiums from both personal insurance (car, motorcycle, travel, home, boat, life & medical) and business insurance (property & commercial, marine & aviation, energy, motor fleet). The company operates as a composite insurer with global underwriting footprint.
- Reinsurance Operations: Through subsidiaries Qatar Re, Antares, and QIC Europe Limited, QIC conducts reinsurance operations that account for approximately 75-77% of total gross written premiums, providing risk distribution and premium income.
- Investment Income: QIC generates investment income from its diversified investment portfolio managed by QIC Asset Management. The company has received multiple awards for investment performance including 'Top Investment Manager' in MENA region.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels4 records
Qatar Insurance Group (QIC) product offering
Product offeringCore offering
QIC is a composite insurer underwriting personal insurance (car, motorcycle, travel, home, boat, life and medical) and commercial insurance (property and commercial, marine and aviation, energy, motor fleet) for retail and corporate customers. It also operates a global reinsurance business through Qatar Re (Bermuda), Antares (Lloyd's Syndicate 1274), and QIC Europe Limited, and manages investment portfolios through QIC Asset Management. Distribution spans qic.online digital platform, mobile app, branch network, self-service kiosks, and embedded insurance partnerships.
Product overview
Qatar Insurance Group (QIC) operates as a multi-channel composite insurer offering personal and commercial insurance products. Personal insurance (under QIC Insured) includes car, motorcycle, travel, home, boat, and life & medical coverage distributed via qic.online, mobile app, branches, and self-service kiosks. Business insurance encompasses Property & Commercial, Marine & Aviation, Energy, and Motor Fleet. The group operates through subsidiaries including Antares Global and Antares Re (Lloyd's reinsurance), Qatar Re (Bermuda reinsurance), QIC Europe Limited, QLM (health/life), Equinox (investment management), and QIC Asset Management. Products are also available through regional entities in Oman (OQIC), Kuwait (KQIC), and UAE.
Differentiator
Problem solved
Functional benefit
Brands
- MiIncome: Embedded income protection insurance product launched by MIC Global in Qatar through collaboration with QIC
- MIC Global
Quantifiable outcome
- 6% growth in net profit to QAR 217 million in Q1 2026
- +2 more outcomes
Companies that use Qatar Insurance Group (QIC)
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
Qatar Insurance Group (QIC) technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature3 records
Qatar Insurance Group (QIC) partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and strategic.
- MIC GlobalcoreMIC Global, a US-based insurtech company, launched its MiIncome product in Qatar in partnership with QIC following regulatory clearance. The collaboration addresses income protection needs through embedded insurance distributed via digital platforms.
- Jaguar TransitstrategicQIC announced strategic investment in Jaguar Transit as one of three insurtech startups to expand regionally and globally, supporting innovative insurance solutions.
- MIC GlobalstrategicQIC partnered with MIC Global (US-based insurtech) to launch MiIncome product in Qatar following regulatory clearance. The collaboration aims to address income protection needs through embedded insurance distributed via digital platforms across GCC.
- Digital PetroleumstrategicQIC announced strategic investment in Digital Petroleum as one of three insurtech startups to expand regionally and globally, supporting innovative insurance solutions in the energy sector.
- Ooredoo GroupstrategicQIC and Ooredoo Group signed an MoU to offer integrated insurance products delivering true value in a rapidly changing world. This strategic collaboration aims to provide comprehensive digital insurance solutions.
Scale indicators10 records
Recent moves7 records
Qatar Insurance Group (QIC) competitors and assessment
Company assessmentBroad incumbents
- Swiss Re: Global reinsurance leader comparable to QIC's Qatar Re and Antares Lloyd's operations. Swiss Re is a natural peer given similar specialty reinsurance underwriting focus and global Lloyd's/Bermuda platform participation, and is a key competitor in MENA treaty reinsurance placements.
- Munich Re: World's largest reinsurer, directly comparable to QIC's Qatar Re and Antares operations. Munich Re competes head-to-head with QIC's reinsurance subsidiaries in specialty and treaty reinsurance markets globally and is a key benchmark for reinsurance cycle exposure.
- Allianz SE: Global composite insurer with significant MENA presence through regional partners. Comparable to QIC in offering diversified P&C and life products; competes with QIC in commercial and specialty lines in the region but does not have QIC's domestic market concentration.
Emerging players
- MIC Global: US-based insurtech that QIC has invested in and partnered with for the MiIncome embedded income protection product in Qatar. MIC Global is an emerging player in the embedded insurance space that QIC is both a partner and minority investor in, making it a relevant emerging player peer on the insurtech side.
Direct peers
- Beazley plc: Lloyd's-listed specialty insurer with comparable specialty lines (marine, energy, aviation, property). Beazley is a direct peer to QIC's Antares Global / Antares Re (Lloyd's Syndicate 1274) operations in the specialty insurance market, with similar risk appetite and distribution model.
- Gulf Insurance Group (GIG): Kuwait-headquartered composite insurer with multi-line P&C and life operations across the MENA region, including reinsurance. GIG is the closest direct peer to QIC given overlapping GCC footprint, similar product mix (motor, marine, energy, property), and comparable scale and listing on regional exchanges.
- Salama Cooperative Insurance: UAE-listed cooperative insurer offering family and general Takaful (Islamic insurance) products. Comparable to QIC in serving the MENA retail and commercial market, with overlap in motor and personal lines; both target the GCC insurance buyer with similar digital distribution strategies.
- Abu Dhabi National Insurance Company (ADNIC): UAE-listed composite insurer offering personal and commercial P&C lines. ADNIC is a direct regional competitor to QIC in the UAE market, with comparable product portfolio (motor, property, marine, energy) and similar institutional ownership structure.
Regional players
- Company for Cooperative Insurance (Tawuniya): Saudi Arabia's largest national insurer offering comprehensive P&C, health, and motor lines. Comparable to QIC as a dominant MENA composite insurer and a fellow NLI/regulator-favored national champion serving the GCC market.
- Bupa Arabia for Cooperative Insurance: Saudi Arabia's largest health insurer and a MENA-focused health insurance specialist. Comparable to QIC's QLM Life & Medical subsidiary in health insurance scale and regional focus, and a key regional peer in the GCC health insurance market where QIC competes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Qatar Insurance Group (QIC) social profiles
Digital presenceQatar Insurance Group (QIC) financial estimates
Financial estimateRevenue estimate
Valuation estimate
Qatar Insurance Group (QIC) leadership team
Management profileNumber of profiles
Profiles22 records
Qatar Insurance Group (QIC) subsidiaries and ownership
Company hierarchySubsidiaries14 records
Qatar Insurance Group (QIC) funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Qatar Insurance Group (QIC) M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Qatar Insurance Group (QIC)
What does Qatar Insurance Group (QIC) do?
QIC is a composite insurer underwriting personal insurance (car, motorcycle, travel, home, boat, life and medical) and commercial insurance (property and commercial, marine and aviation, energy, motor fleet) for retail and corporate customers. It also operates a global reinsurance business through Qatar Re (Bermuda), Antares (Lloyd's Syndicate 1274), and QIC Europe Limited, and manages investment portfolios through QIC Asset Management. Distribution spans qic.online digital platform, mobile app, branch network, self-service kiosks, and embedded insurance partnerships.
Is Qatar Insurance Group (QIC) a public or private company?
Qatar Insurance Group (QIC) is a public company. It is classified as public and is currently operating.
When was Qatar Insurance Group (QIC) founded?
Qatar Insurance Group (QIC) was founded in 1964. It employs 1,001 to 5,000 people.
Where is Qatar Insurance Group (QIC) based?
Qatar Insurance Group (QIC) is headquartered in Doha, Qatar, in the Middle East region.
How does Qatar Insurance Group (QIC) make money?
Three revenue lines are on record. Insurance Premiums are the primary driver. The others are reinsurance Operations and investment Income.
Who are Qatar Insurance Group (QIC)'s main competitors?
Broad incumbents on record are Swiss Re, Munich Re and Allianz SE. MIC Global is listed as an emerging player. Direct peers are Beazley plc, Gulf Insurance Group (GIG), Salama Cooperative Insurance and Abu Dhabi National Insurance Company (ADNIC). Regional players are Company for Cooperative Insurance (Tawuniya) and Bupa Arabia for Cooperative Insurance.
Does Qatar Insurance Group (QIC) have an API?
No public API is recorded for Qatar Insurance Group (QIC).
What industry is Qatar Insurance Group (QIC) in?
Qatar Insurance Group (QIC)'s product category is General Insurance. Its primary akta.pro industry code is FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms, with a secondary code of FSAGALAF, Embedded Insurance Distribution & Premium Financing. Its NAICS code is 52412 and its SIC code is 6331.