Qatar Insurance (QIC), the leading insurer in Qatar and one of the largest across the Middle East and North Africa, has announced that it delivered resilient net profit of QAR365m ($100m) in 1H2026, absorbing the impact of the regional geopolitical conflict as revenue growth and higher investment income underpin the result.
The net profit was 4.8% lower than that reported for 1H2025.
Insurance revenue rose by 15% to QAR4.8bn, Gross Written Premium grew by 4.3% to QAR5.9bn, and investment income rose by 2.8% to QAR477 m, holding QIC profitability broadly steady while the insurance service result reflected conflict-related claims and reserving. QIC’s Capital and balance sheet strength remained strong, the company said in a statement.
1H2026 financial highlights
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Insurance revenue: QAR4.8bn, up 15% year on year, reflecting the earned growth of QIC’s in-force portfolio
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Gross Written Premium: QAR5.9bn, up 4.3% year on year, underpinned by selective growth across QIC’s domestic, regional and international portfolios, achieved while maintaining underwriting discipline in a softening global reinsurance market.
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Insurance service result: QAR202m, down 8.4% year on year, reflecting the regional geopolitical conflict. The reduction reflects claims and reserving related to the regional geopolitical conflict.
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Investment income QAR477m, up 2.8 % year on year, supported by QIC’s positioning through a period of shifting global rates. These figures were modestly below the prior-year period, as the conflict-related pressure on underwriting outweighed the gains in premium and investment income.
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Investment yield: 5.3%.
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Net profit: QAR365m, down 4.8% year on year while net profit attributable to QIC shareholders stood at QAR354m, down by 5.4% year on year
The company said, “QIC absorbed the impact of an exceptional regional geopolitical conflict, an event without recent precedent for the sector, while holding earnings broadly in line with the prior-year period. The outcome reflects the strength and diversification of QIC’s underwriting portfolio, the quality of its balance sheet and reserves, and a disciplined risk-management framework built to withstand precisely this kind of shock.”
Sheikh Hamad bin Faisal Al Thani, QIC 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.”
Capital and solvency
QIC maintained a strong capital and solvency position through the first half. QIC’s capital strength continues to support its financial-strength ratings and its capacity to underwrite through periods of elevated geopolitical and market uncertainty.
Operating environment
QIC delivered its first-half result against a mixed global backdrop. Global reinsurance pricing continued to soften across most lines through the January and mid-year renewals, as record traditional and alternative capital outweighed demand, while war-exposed specialty lines hardened sharply following the regional geopolitical conflict. Regulators across the GCC continued to modernise the sector and Kuwait introducing minimum financial-strength rating requirements. This shift toward stronger capital and rating standards plays to the strengths of well-capitalised, highly rated insurers such as QIC wherever they compete. The interest-rate backdrop remained broadly stable, with major central banks holding or modestly tightening policy over the period.
Outlook
QIC 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.