Qatar Insurance Company (QIC) announced a net profit of QAR360 million ($99 million) for the first half of 2024, marking an 11% increase from QAR325 million in the same period last year. The growth has been attributed to strong operational efficiency and an increase in premiums from domestic and regional markets, which saw a 44% year-on-year rise to QAR2.7 billion. QIC’s chairman emphasized the company’s focus on enhancing its regional presence and digital services, while the CEO noted a strategic restructuring of its UK motor business aimed at boosting profitability. The company reported stable investment income of QAR465 million for the first half of 2024, indicating resilience amid global challenges.
