SR.No: 63
Qatar Insurance Company (QIC)
Sector: Insurance
Date of Establishment: 1964
Country: Qatar
Group CEO: Salem Khalaf Al Mannai
Sales: $2.8 billion
Profits: $34.6 million
Assets: $11.7 billion
Market Value: $2.3 billion
QIC has nine companies, with operations in Qatar, Kuwait, Oman, the U.A.E., and Malta. In 2020, one of the company’s subsidiaries, QLM, raised an IPO on the Qatar Exchange, offering 60% of its share capital—it was the country’s first IPO since 2019. QIC currently holds 25% of the company’s shares. The company reported profits of $34.6 million in 2020, an 80% drop compared to 2019.