* MENA region leading insurer's gross premium volume remained stable at QR3.2bn in first quarter
MENA region’s leading insurer Qatar Insurance Company (QIC) reported robust results with a net profit of QR205mn for the first quarter of 2021 as compared to a loss of QR186mn in Q1, 2020.
Gross premium volume remained stable at QR3.2bn in the first quarter of the year.
QIC posted an underwriting income of QR157mn for the first quarter, compared to an underwriting loss of QR69mn in Q1, 2020, an increase of 329%.
“The Group’s robust performance – while the world’s insurance markets are still confronted with the impact from the Covid-19 pandemic on business volume, claims and day-to-day operations – is testimony of QIC’s successful execution of its strategic plan to de-risk its international operations, strengthen the more predictable frequency business and drive forward the digitisation of the Group’s domestic and MENA operations.
