Mena News - Qatar: QIC to Establish Presence in the QFC
Source: Middle East Insurance Review | Mar 2007
Qatar Insurance Co (QIC) will be establishing a new firm in the Qatar Financial Centre (QFC) to spearhead its growth overseas, particularly in the GCC region. The new insurance company will be fully operational in the first quarter of this year.
QIC’s personal insurance portfolio is expected to see growth in line with the expanding population as well as rising personal income and demand for new products.
For 2006, the company netted a profit of over QAR338 million (US$93 million) and obtained more than QAR1 billion in insurance premiums.