Doha [Qatar], March 16: Qatar Insurance Company (QIC), a leading insurer in Qatar and the MENA region, held its Annual General Assembly (AGM) and Extraordinary General Assembly (EGM) meetings on March 12, 2026, virtually via Microsoft Teams. The meetings were chaired by Sheikh Hamad bin Faisal bin Thani Jassim Al Thani, chairman of the Board of Directors of QIC, and were attended by members of the board, executive management, shareholders, and representatives of regulatory authorities.
During the AGM, shareholders reviewed and approved the Board of Directors' report on the company's activities and financial position for the financial year ended December 31, 2025, along with its future strategic plans. The assembly also approved the consolidated financial statements for 2025, including the balance sheet and profit and loss account, following the presentation of the external auditors' report.
QIC reported strong financial performance in 2025. Net profit before Pillar Two taxes reached QR874 million, reflecting a 19 percent year-on-year increase. Net profit attributable to shareholders stood at QR791 million, while Gross Written Premiums rose to QR9.9 billion. The company recorded an Insurance Service Result of QR 506 million, with investment and other income totaling QR 993 million. Earnings per share increased to QR 0.188 compared with QR 0.171 in 2024.
Commenting on the results, Sheikh Hamad bin Faisal bin Thani Jassim Al Thani said the company's 2025 performance highlights its strong financial position and the effectiveness of its strategy in delivering sustainable growth despite global economic challenges. He added that QIC continues to strengthen its presence in key markets while maintaining a diversified portfolio that supports long-term shareholder value.
QIC Group Chief Executive Officer Salem Al Mannai said the results demonstrate the group's steady progress in executing its strategy across domestic, regional and international markets. He noted that the company remains focused on innovation, digital transformation and enhancing customer experience to support future growth opportunities.
The AGM approved the distribution of a cash dividend of 11 percent of the nominal value per share, equivalent to QR0.11 per share, for the financial year ended December 31, 2025. The company confirmed that the dividend will be transferred to Edaa for distribution to eligible shareholders.
Shareholders also approved related-party transactions carried out during the financial year 2025 and endorsed the Corporate Governance Report for the same period. The assembly further approved the Remuneration Policy and the Related Party Policy for 2026.
The AGM granted discharge to the members of the Board of Directors from liability for the financial year 2025 and approved the remuneration allocated to each board member for the same period, subject to approval from the Qatar Central Bank. Shareholders also approved the appointment of the company's external auditors for the financial year 2026 and their fees.
During the meeting, shareholders were briefed on the company's progress indigital innovation and product development. In 2025, QIC enhanced its digital ecosystem through improvements to th e QIC mobile application, enabling customers to obtain instant motor insurance for vehicles that pass inspection at company centers or through the mobile platform.
The company also introduced an "Events" feature within the application, allowing users to browse and purchase tickets for sporting, cultural and entertainment events in Qatar. In addition, redemption options under the Coins loyalty programme were expanded through partnerships with leading brands.
As part of its product innovation, QIC launched two new personal insurance solutions in 2025: Qatar's first school fees protection insurance and personal cyber insurance, further strengthening its consumer offerings and supporting its digital-first strategy.
QIC also played an active role in promoting innovation and dialogue wit hin the insurance sector. In 2025, the company hosted the fourth MENA InsurTech Summit and the inaugural MENA FinTech Summit in Doha, attracting more than 1,500 participants,including industry leaders, innovators and policymakers, who discussed the impact of artificial intelligence and emerging technologies on insurance and financial services.
Shareholders approved the election of the board of directors for a three-year term. Sheikh Hamad bin Faisal bin Thani Jassim Al Thani was confirmed as a board member representing the General Authority for Retirement and Social Insurance.
Non-independent board members elected include Abdulrahman Issa Al Mannai representing Al Ghariya Real Estate Investment Co, Sheikh Faisal bin Thani bin Faisal Al Thani representing Brooq Trading Co., Sheikh Saud bin Khalid bin Hamad Al Thani representing Al Dawodiya Holding Co., Sheikh Fahad bin Hamad bin Jassim Jabr Al Thani representing Al Mirqab Capital Co., Ali Hussein Ibrahim Al Fardan representing Alfardan Investment Co., Ali Yousef Hussein Kamal and Dr. Khalifa Abdullah Hussein Al Naama.
Reserve members appointed include Abdulaziz Mohammed Hamad Abdullah Al Mana representing Al Mana Capital Co., and Mohammed Jassim Ibrahim Jaidah representing Al Jaidah Automobiles & Trading Co.
Independent board members elected by acclamation were Ibrahim Jassim Al Othman Fakhro and Sheikh Jabr Abdullah bin Ali bin Jabr Al Thani. Shareholders acknowledged one vacant independent board seat and authorized the chairman to take the necessary steps to fill the position in accordance with applicable regulations.
Following the AGM, the EGM approved amendments to the company's Articles of Association to ensure compliance with the Corporate Governance System for Listed Companies issued by the Qatar Financial Markets Authority (Resolution No. 5 of 2025), subject to approval from Qatar Central Bank. The EGM also authorized the chairman or his deputy to sign all necessary documents to implement the approved amendments.
Subsequently, the board elected Sheikh Hamad bin Faisal bin Thani Jassim Al Thani as Chairman and Abdulrahman Issa Al Mannai as Vice Chairman for the new term.
Source: Qatar Tribune
