Qatar Insurance (QIC), one of the largest insurance companies in the MENA region, has reported a net profit attributable to shareholders of QAR791m ($217.3m) for the financial year 2025, rising by 9% from QAR725m in 2024.
Aside from net profits attributable to shareholders, the highlights of QIC’s 2025 financial performance include:
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Net profit before Pillar Two taxes up by 19% from 2024 to QAR874m (The Pillar Two tax framework requires multinational corporations operating in or from Qatar to comply with a global minimum effective tax rate of 15% for financial reporting purposes under IAS 12)
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Gross written premiums grew to QAR9.9bn, a 9% increase compared to 2024
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Insurance service results (ISR) stood at QAR506m.
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Investment and other Income of QAR993m, up by 1% year on year-on-year
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Return on investment of 5.1%, compared to 5.0% for 2024.
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Proposed cash dividend distribution of 11% for the year ended 2025.
Commenting on the financial results, QIC Group Chairman Sheikh Hamad bin Faisal Al Thani said, “2025 has been another excellent year for QIC. On the results side, the company is again proud to deliver a double-digit bottom-line growth and higher earnings for shareholders, derived from a strong, balanced underwriting portfolio and expertly-managed investments. On the client side, the company continues to trailblaze client-centricity and service and product excellence through its commitment to innovation and digital transformation, including through the integration of AI technologies.”
QIC Group CEO Mr Salem Al Manna said, “2025 saw QIC continuing to strategically rebalance its underwriting portfolio. The portfolio has now stabilised at a well-balanced level of core domestic and regional business versus international business in terms of risk diversification and is highly profitable."
Underwriting portfolio
The strategic market and risk rebalancing of QIC’s underwriting portfolio continued through 2025, stabilising by the year's end. The company’s domestic (Qatar) and MENA operations account for 59% of GWP in 2025, compared to 52% in 2024 and less than 20% in 2021.
International business remains an important component of the portfolio and is predominantly written through QIC’s subsidiary Antares Syndicate, the company’s independent Managing Agent operating at Lloyd’s in London.
In terms of risk diversification, the company achieved GWP growth in personal lines, health and property. QIC’s expansion of its domestic personal lines product suite and strong digital offerings were key drivers of growth. Short-tail business growth exceeded long-tail business growth, further adding to QIC’s positive ISR. The company’s exposure to UK motor business remains limited to reinsurance.
The outcome of these strategic adjustments is a robust, profitable underwriting portfolio with an ISR of QAR506m.
Growth ahead in Saudi Arabia
In alignment with QIC’s long-term GCC growth strategy, QIC has presented a comprehensive proposal to establish a branch operation in Saudi Arabia. Subject to regulatory approval, QIC’s branch model will leverage the company’s technical infrastructure and regional expertise, while capitalising on supportive regulatory reforms, mandatory insurance frameworks and momentum from Saudi Vision 2030.