Doha, Qatar: Qatar Insurance (QIC, the Company), the leading insurer in Qatar and the Middle East and North Africa (MENA) region, yesterday reported a net profit of QR791m for the full year 2025, a rise of 9% from QR725m in the previous year. Following a meeting of the Board of Directors yesterday, which was presided over by Sheikh Hamad bin Faisal bin Thani Jasim Al Thani, Chairman of QIC Group, the Board approved the financial results.

Commenting on the financial results, Sheikh Hamad bin Faisal Al Thani, Chairman of QIC Group, 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’s development of the QIC App, MENA’s first insurance-powered digital ecosystem, as well as its launch of innovative new insurance products and the many prestigious awards received by the Company in 2025, all attest to the success of the Company’s well-defined strategies for profitable growth and resilience.”

Salem Al Mannai, Chief Executive Officer of QIC Group, 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. We are fully focused on understanding our clients’ evolving needs, on innovation, and on providing a world-class customer experience, as evidenced by the launch of two further personal lines products in 2025 and ongoing enhancements made to the award-winning QIC App. Impressively, the QIC App is one of the fastest growing consumer platforms in Qatar, and the only one to combine insurance and non-insurance services. In addition to contributing to regional economic development and stability by mitigating risk and through initiatives such as the Doha-based MENA Insurtech and Fintech Summits, QIC’s operations are underpinned by robust ESG principles and initiatives, including to promote climate resilience, health and wellbeing, and cultural heritage.”

Global GDP growth remains lacklustre compared to pre-Covid levels but has displayed resilience despite elevated geopolitical tensions, protectionism and policy uncertainty. The 2025 global growth forecast, which took a downturn after the April 2025 US tariff shock, recovered by year end 2025 to 3.2% (OECD), compared to 3.3% in 2024. Global growth is expected to fall to 2.9% in 2026 as tariffs weigh on investment and trade amid ongoing uncertainty but then increase to 3.1% in 2027 as tariffs impact fade, financial conditions improve and lower inflation supports demand.

The MENA region’s 2025 growth forecast likewise recovered through 2025 to 3.3% (IMF) and has a strong 2026 outlook of approximately 3.6%, solidly above the global average and benefitting from Qatar’s heightened LNG production. The region’s growth outlook is supported by robust public investment, digital and AI transformation, easing inflation and resilient consumer spending. Structural reforms, including economic and trade diversification, are key drivers of regional stability amid ongoing global economic downside risks.

The strategic market and risk rebalancing of QIC’s underwriting portfolio continued through 2025, stabilising by year end. The Company’s domestic (Qatar) and MENA operations now 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.

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