12/08/2026 05:43 AST
Qatar Insurance (QIC) reported a net profit attributable to shareholders worth QR354mn in the first six months of 2026.
Insurance revenue rose 15% to QR4.8bn, reflecting the earned growth of QIC's in-force portfolio. Gross written premium, a measure of underwriting volume, increased 4.3% to QR5.9bn, underpinned by selective growth across QIC's domestic, regional and international portfolios, achieved while maintaining underwriting discipline in a softening global reinsurance market.
The insurance service result was QR202mn, down 8.4% on the prior-year period. The reduction reflects claims and reserving related to the regional geopolitical conflict, discussed separately below.
Investment income rose 2.8% to QR477mn, supported by QIC's positioning through a period of shifting global rates. The investment yield was 5.3%.
Net profit stood at QR365mn and net profit attributable to QIC shareholders at QR354mn, each modestly below the prior-year period, as the conflict-related pressure on underwriting outweighed the gains in premium and investment income. Earnings per share were QR0.076.
Sheikh Hamad bin Faisal al-Thani, chairman, said: "These results reflect the strength and resilience that define QIC. Even against this exceptional event, QIC has safeguarded shareholder value, maintained a strong capital position, and stayed the course on its strategic priorities. The board is confident that QIC's diversified franchise, prudent risk management and clear strategy will continue to deliver long-term value for our shareholders."
Salem al-Mannai, Group CEO, said: "The first half of 2026 tested our sector with an exceptional geopolitical event, and QIC faced it from a position of operational strength. Disciplined underwriting and a high-quality investment portfolio enabled us to absorb the impact on our insurance service result, while continuing to grow insurance revenue and gross written premiums, and increasing investment income. We maintain strong and sufficient reserves in line with actuarial estimates."
Al-Mannai affirmed that QIC enjoys strong capital solvency, and is moving forward with executing our strategic priorities according to plan, including continuing to expand its digital ecosystem and international franchise. He added: "Our focus is unchanged: underwriting quality and the profitability of our book through the cycle."
QIC maintained a strong capital and solvency position throughout H1 2026. Its capital strength continues to support its financial-strength ratings and its capacity to underwrite through periods of elevated geopolitical and market uncertainty.
The company enters the second half of 2026 with capital and balance sheet strength intact and continued momentum in its premium base and digital franchise.
While QIC remains alert to the course of the regional geopolitical conflict and to softening reinsurance conditions, its underwriting discipline, diversified portfolio, and capital strength position it to continue creating value for shareholders and customers.
Gulf Times
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