Qatar Insurance Company (QIC) was listed amongst the top 100 companies in the Middle East by Forbes Middle East Magazine’s annual ranking of the top 100 listed companies in the region for 2021.
The company was ranked top insurance company in the Middle East according to the same ranking. The prestigious ranking features the region’s biggest, most valuable, and profitable companies.
The new ranking 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 Mena region.
Forbes Middle East’s selection of the top 100 companies in the Middle East is based on collected data from listed stock exchanges in the Arab World and ranked companies based on 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.
Speaking about QIC’s new ranking, al-Mannai commented: “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 of QIC Group’s strategy and the commendable achievements that have been accomplished through 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. Today, QIC 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 A M Best. In terms of profitability and market capitalisation, QIC is also the largest insurance company in the Mena region. It is listed on the Qatar Exchange and has a market capitalisation of over $4bn.
