With a humble beginning in 1995, as pioneer of Islamic Insurance in Qatar, QIIC is now among the leading insurance companies in State of Qatar providing insurance protection to large commercial undertakings, both in the private and public sectors, including government offices, banking institutions, hotels and other organizations of high standing as well as to many infrastructure projects.
Listed on Qatar Stock Exchange, QIIC is a dedicated Islamic Insurance company managed by a team of qualified and experienced professionals and supervised by a distinguished Board of Directors, QIIC has the capacity to underwrite risks in all avenues of Insurance namely, Property (Fire, Engineering & Project Insurance), Marine, Motor, Liabilities, Life, Medical, etc.
QIIC has arrangements with renowned and financially sound reinsurance/retakaful companies enabling it to offer comprehensive coverage for large corporate groups and projects.
QIIC is a participating insurer in the Qatar Rail Projects, Ashghal’s Owner Controlled Insurance Program (OCIP) as a member of the National Insurance Consortium (NIC) and is leading the NIC on OCIP for Construction of Stadia for Qatar FIFA 2022 World Cup.
QIIC has been assigned IFS rating of B++ with stable outlook by AM Best which reflects both the stand-alone fundamentals as well as incorporating the benefits the company derives from its shareholders.
In addition QIIC has won many international and regional awards notably Family Takaful Company of the Year and General Takaful Company of the year 2014 at inaugural Middle East Insurance Industry Awards, Dubai, Only insurance company in the prestigious Qatar Today’s Top 10 list, 2016, Family Takaful Company of the year 2016 at 3rd Middle East Insurance Industry Awards and Best Takaful Company in the Middle East at International Takaful Awards 2017.
Last but not the least, the co-operative system, followed by QIIC, entitles the policyholders to participate in the surplus (profit) of the Policyholders’ Fund realized at the end of the year noting that QIIC has declared surplus for policyholders every year from its first year of operation. Starting with 5% at end 1995 the level of surplus has now risen to 20% since 2009.