Qatar Insurance Group, the largest insurance company in the Mena region, held a time capsule event at its main headquarters last Thursday, coinciding with the day the company was established 57 years ago.
QIC Group CEO Salem al-Mannai joined other officials and employees to place the selected items in the time capsule, which was later sealed and buried.
“The time capsule will provide snapshots of this era when it is opened in 2064 on the Group’s 100th anniversary. The items placed are symbolic of QIC’s history and is well representative of our core asset - our employees’ - hopes for the Group’s future,” said al-Mannai.
The time capsule is meant to leave a historical heritage for the upcoming generations about the achievements of the group since it was first established by decree no 1 for 1964 creating a shareholding company under the name of Qatar Insurance Company.
“Before pinning our mind on the promising future and achievements yet to come we wanted to take a moment to really grasp what is it that we’ve accomplished to better understand how to sustain this success. The time capsule commemorates this milestone for the future and will bear witness to a 100 year success story when QIC Group realises the dream of becoming the world’s largest insurance company,” al-Mannai added.
In June 2021, QIC Group was listed amongst the top 100 companies in the Middle East by Forbes Middle East Magazine’s annual ranking. The company was ranked top insurance company in the Middle East according to the same ranking.
QIC was also ranked the fifth most valuable brand locally for 2021 by the global agency Brand Finance in its list for the 10 strongest brands in the Qatari market with the value of its trademark amounting to $535mn. The strict criteria of evaluation examined and measured the strength of assets, global reputation, market share, profitability with the volume of operations, and geographical spread, as these factors affect the strength of any financial institution and how each of its clients, shareholders, and dealers perceive it in the markets in which it operates. The evaluation mechanism examined QIC ‘s financial data and revenues and performance levels were evaluated according to financial results, a five-year forecast period and expected future growth.
Founded in 1964, QIC was the first domestic insurance company in Qatar. Today, QIC is the market leader in Qatar and the dominant insurer in the GCC and Mena region with a strategic global presence. It is listed on the Qatar Exchange and has a market capitalisation of over $4bn.
“The time capsule will provide snapshots of this era when it is opened in 2064 on the Group’s 100th anniversary. The items placed are symbolic of QIC’s history and is well representative of our core asset - our employees’ - hopes for the Group’s future,” said al-Mannai.
A view of the time capsule and its contents
The time capsule is meant to leave a historical heritage for the upcoming generations about the achievements of the group since it was first established by decree no 1 for 1964 creating a shareholding company under the name of Qatar Insurance Company.
“Before pinning our mind on the promising future and achievements yet to come we wanted to take a moment to really grasp what is it that we’ve accomplished to better understand how to sustain this success. The time capsule commemorates this milestone for the future and will bear witness to a 100 year success story when QIC Group realises the dream of becoming the world’s largest insurance company,” al-Mannai added.
QIC Group CEO Salem al-Mannai at the time capsule marker
In June 2021, QIC Group was listed amongst the top 100 companies in the Middle East by Forbes Middle East Magazine’s annual ranking. The company was ranked top insurance company in the Middle East according to the same ranking.
QIC was also ranked the fifth most valuable brand locally for 2021 by the global agency Brand Finance in its list for the 10 strongest brands in the Qatari market with the value of its trademark amounting to $535mn. The strict criteria of evaluation examined and measured the strength of assets, global reputation, market share, profitability with the volume of operations, and geographical spread, as these factors affect the strength of any financial institution and how each of its clients, shareholders, and dealers perceive it in the markets in which it operates. The evaluation mechanism examined QIC ‘s financial data and revenues and performance levels were evaluated according to financial results, a five-year forecast period and expected future growth.
Founded in 1964, QIC was the first domestic insurance company in Qatar. Today, QIC is the market leader in Qatar and the dominant insurer in the GCC and Mena region with a strategic global presence. It is listed on the Qatar Exchange and has a market capitalisation of over $4bn.
