Qatar Insurance (QIC), the leading insurer in Qatar and the MENA region, posted a 23% increase in net profit before Pillar II tax for the first nine months of 2025 (9M2025).
In a statement, QIC said, “This milestone underlines the Group’s resilience, strategic foresight, and market leadership, with a net profit of QAR588m ($161.5m), a 12% increase from QAR525m during the same period in 2024.”
Commenting on the results, QIC chairman Sheikh Hamad bin Faisal Al Thani Jasim Al Thani, said, “The remarkable 23% increase in net profit before Pillar II tax demonstrates the enduring strength of QIC’s strategy and the unwavering commitment of our teams across all business units. Our focus on innovation, client-centric solutions, and robust governance has allowed us to navigate global uncertainties with confidence.”
The MENA region is projected to grow by 2.6% in 2025, demonstrating resilience amid regional challenges. GCC growth is forecast at 4.1% in 2025 and 4.6% in 2026, driven by energy sector recovery, economic diversification, and limited exposure to global tariffs.
QIC has capitalised on this resilient regional growth by rebalancing its underwriting portfolio toward profitable markets in Qatar and MENA.
Domestic and regional GWPs now constitute 60% of total GWPs, up from 54% year-on-year, while international operations have been streamlined to 40%, reinforcing profitability and risk-adjusted growth.
Qatar has adopted the Pillar II Global Minimum Tax for multinational corporations, which introduces a global minimum tax rate of 15%, ensuring parity between local businesses and multinational enterprises. M