QIC earnings fell in the first nine months of 2026 as conflict-related claims and reserves weighed on underwriting, despite growth in premiums and investment income. Qatar Insurance Company reported net profit of QR 562 million, down 4.3% from a year earlier.

Key Takeaways

  • Gross written premiums rose 9% to QR 8.5 billion, while insurance revenue increased 14% to QR 7.4 billion.
  • Investment income rose 5.6%, but was broadly stable excluding a one-off gain from a Beema stake sale.
  • QIC said ultimate conflict-related losses remain uncertain as claims develop.

QIC earnings and underwriting pressure

In its nine-month financial results, QIC reported an insurance service result of QR 336 million, down 4.7% from the same period in 2025. The company attributed the decline to claims and reserving related to the regional geopolitical conflict, alongside higher claims costs.

QIC said the impact was concentrated in its international operations, principally in specialty insurance lines including war, terrorism and political violence cover and related marine classes. It strengthened reserves during the nine-month period and said it continues to monitor the situation.

Net profit attributable to QIC shareholders was QR 550 million, down 4% year over year. The company said the percentage declines in both net profit and the insurance service result were narrower at nine months than at the half-year point.

Premium growth and investment income

QIC said selective growth across its domestic, regional and international portfolios supported the increase in gross written premiums. Insurance revenue growth reflected earnings from its in-force portfolio.

Investment income reached QR 749 million, including a one-off gain on the sale of 13.75% of QIC’s shareholding in Beema. Excluding that gain, investment income was broadly stable year over year, as fixed-income earnings offset softer returns on regional equities.

QIC said growth in premium and investment income largely offset the conflict-related pressure on underwriting.

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