Qatar Insurance Company SAQ (DSMD:QATI) Q4 2025 Earnings Call Highlights: Strong Financial …

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Wed, February 18, 2026 at 2:00 AM GMT+9 4 min read

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**Gross Written Premium:** QAR10 billion, up 9% year-on-year.

**Net Profit Before Tax:** QAR874 million, a 19% year-on-year increase.

**Net Profit After Tax:** QAR806 million, up 10% year-on-year.

**Insurance Service Result:** QAR506 million.

**Investments and Other Income:** QAR993 million, a 3% increase.

**Earnings Per Share:** Increased to QAR0.188 from QAR0.171.

**Proposed Cash Dividend:** 11% for the year.

**Regulatory Solvency Ratio:** Approximately 200% at year-end.

**Regional Gross Written Premium:** QAR5.9 billion, a 24% year-on-year increase.

**International Operations Contribution:** QAR4 billion to the group's GWP.

**Insurance Revenue:** QAR8.9 billion.

**IFRS 17 Combined Ratio:** 93%, within the target range of 93% to 95%.

**Investment Portfolio Yield:** 5.1%, up from 4.9% last year.

**External AUM:** Exceeded QAR2 billion.

**AAA ESG Rating:** Achieved from MSCI, the only insurer in the MENA region with this rating.

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Release Date: February 17, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Gross written premium reached QAR10 billion, marking a 9% year-on-year increase.

Net profit before Pillar II global tax provision increased by 19% year-on-year to QAR874 million.

The regulatory solvency ratio remained robust at about 200%, indicating strong financial health.

QIC achieved a AAA ESG rating from MCSI, the only insurer in the MENA region to do so.

The company's investment portfolio yielded a return of 5.1%, up from 4.9% the previous year.

Negative Points

The company faced challenges in a competitive and rate-softening market environment.

Despite growth, the net profit after tax rose only by 10% year-on-year, which may be seen as modest compared to other metrics.

The company had to exit low-margin, loss-making, high-severity, and high-volatile risks, indicating past strategic missteps.

International operations faced challenges due to global market losses like the US wildfires.

The combined ratio, although improved, still stands at 93%, which is at the higher end of the company's target range.

Q & A Highlights

Q: Can you provide an overview of Qatar Insurance Company’s financial performance for the year 2025? A: The gross written premium reached QAR10 billion, marking a 9% year-on-year increase. Net profit before Pillar II global tax provision was QAR874 million, up 19% year-on-year, while net profit after tax rose to QAR806 million, a 10% increase. The earnings per share increased to QAR0.188 from QAR0.171, with a proposed cash dividend distribution of 11%. The regulatory solvency ratio remained robust at about 200%. (Varghese David, Group Chief Financial Officer)

Story Continues  

Q: How has Qatar Insurance Company managed to maintain profitability in a competitive market environment? A: The company has focused on innovation, client-centric products, and robust governance. Investments in actuarial GLM and GBM models, along with prudent capital allocation, have provided better returns on equity. Strategic rebalancing towards high-growth markets and leveraging international operations through the Lloyd’s Syndicate platform have also contributed to sustainable growth. (Varghese David, Group Chief Financial Officer)

Q: What are the key achievements in Qatar Insurance Company’s regional and international operations? A: The regional gross written premium increased to QAR5.9 billion, a 24% year-on-year increase. International operations contributed QAR4 billion to the group’s GWP. The company has exited low-margin, high-severity risks and expanded its MENA reach with new operations at BIFC. (Varghese David, Group Chief Financial Officer)

Q: Can you elaborate on Qatar Insurance Company’s investment performance and strategy? A: The investment portfolio continues to generate robust returns with a yield of 5.1%, up from 4.9% last year. The company has grown noninsurance streams of income through external asset management fees and IT solutions. By the end of 2025, QIC Asset Management’s external AUM exceeded QAR2 billion. (Varghese David, Group Chief Financial Officer)

Q: What are the recent developments in Qatar Insurance Company’s ESG initiatives? A: Qatar Insurance Company achieved a AAA ESG rating from MSCI, making it the only insurer in the MENA region to receive this rating. This highlights the company’s commitment to environmental, social, and governance standards. (Varghese David, Group Chief Financial Officer)

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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