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FINANCIAL NEWS
QIC records 49 percent grow to USD 2.29bn in 2015
20 Jan 2016
(MENAFN) Qatar Insurance Company (QIC) proclaimed the financials for last year, posting a record increase of 49 percent in its ‘Gross Written Premiums’ (GWP) at USD 2.29bn.
Additionally, key drivers of growth involved reinsurance payments, generated over QIC’s global reinsurance subsidiary, which increased at a rate of 116 percent.
Moreover, the Co. combined net income for the whole year 2015 reached USD 292.2mn, recording a growth of 3.8 percent compared to USD 281.5mn for the same period last year.
Therefore, this result reflects local economic and investment headwinds due to lower oil prices and continued softening of global reinsurance and specialty insurance markets.
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