With a humble beginning in 1995, QIIC is now listed on Qatar Stock Exchange and is among the leading insurance companies in State of Qatar providing insurance protection to large commercial undertakings, both in the private and public sectors, that include government offices, banking institutions, hotels and other organizations of high standing as well as to many infrastructure projects.
The Paid up capital rose from QAR 20 million to QAR 150 million by way of bonus shares only and our assets grew manifolds to reach almost a billion Qatari riyals.
Managed by a team of qualified and experienced professionals and supervised by a distinguished Board of Directors, QIIC has the capacity to underwrite risks in all avenues of Insurance namely, Property (Fire, Engineering & Project Insurance), Marine, Motor, Liabilities, Life, Medical, etc.
QIIC has arrangements with renowned and financially sound reinsurance/retakaful companies enabling it to offer comprehensive coverage for large corporate groups and projects.
QIIC is a participating insurer in the Qatar Rail Projects, Ashghal’s Owner Controlled Insurance Program (OCIP) as a member of the National Insurance Consortium (NIC) and is leading the NIC on OCIP for Construction of Stadia for Qatar FIFA 2022 World Cup.
QIIC has been assigned IFS rating of B++ with stable outlook by AM Best which reflects both the stand-alone fundamentals as well as incorporating the benefits the company derives from its shareholders.
In addition QIIC has won many international and regional awards notably Family Takaful Company of the Year and General Takaful Company of the year 2014 at inaugural Middle East Insurance Industry Awards, Dubai, Only insurance company in the prestigious Qatar Today’s Top 10 list, 2016 and Family Takaful Company of the year 2016 at 3rd Middle East Insurance Industry Awards and Best Takaful Company in the Middle East at International Takaful Awards 2017 in London.
The co-operative system followed by QIIC, entitles YOU, the policyholders, to participate in the surplus (profit) realized at the end of the year noting that QIIC has declared surplus every year right from our first year. With a small 5% at end 1995 the declared surplus has risen to 20% with the total declared surplus even exceeding our paid-up capital.