Qatar’s QIC named as top insurance company in Mideast by Forbes

By Amirtha P S, Desk Reporter
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Qatar Insurance Company (QIC), the largest insurer in the Persian Gulf region, was listed amongst the top 100 companies by Forbes Middle East Magazine’s annual ranking in the region for 2021.

As per the same ranking, the company was named as the top insurance company in the Middle East. This recognition reflects QIC’s ability to withstand continuity considering the COVID-19 pandemic, and its success in maintaining its longstanding position as the largest insurance company in the Middle East and North Africa (MENA) region.

Forbes Middle East’s selection of the top 100 companies in the region is based on collected data from listed stock exchanges in the Arab World and ranked companies on the basis of market value, sales, assets, and profits. 

The ranking was revealed in Forbes Middle East’s June 2021 issue, featuring Salem Khalaf al-Mannai, QIC Group CEO. The prestigious ranking features the region’s biggest, most valuable, and profitable companies.

Salem Khalaf al-Mannai
Salem Khalaf al-Mannai Group CEO – QIC

“We are pleased to be ranked amongst the top 100 listed companies in the Middle East, and top insurance company on the list. The top-ranking of QIC is a testament to QIC Group’s strategy and the commendable achievements that have been accomplished through the dedication and commitment of employees of the group. We will continue to play a vital role in fostering the insurance sector of Qatar.”

Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. The insurance firm is the market leader in the country and a dominant insurer in the GCC and MENA region.

QIC is one of the highest-rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A (Excellent) from AM Best. In terms of profitability and market capitalization, QIC is also the largest insurance company in the MENA region. It is listed on the Qatar Exchange and has a market capitalization of over $4 billion.

Related: Qatar’s QIB placed 18th among Forbes top 100 listed companies in Mideast