Qatar Islamic Insurance Group
QQSE:QISI6.80
QAR
-0.09
(-1.35%)
Qatar Islamic Insurance Group
QSE:QISI
(Qatar Stock Exchange)
Recent
price
6.80
P/E
ratio
- -
div
yld
7.40%
ROIC.AI
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- Business
- Qatar Islamic Insurance Group Q.P.S.C. is a Qatar-based Islamic insurance company that provides Shari'a-compliant Takaful insurance products, investment services, and real estate management solutions. Founded in 1993 and headquartered in Doha, Qatar, the company operates under a cooperative insurance model where policyholders participate in operating surpluses distributed from the general Takaful fund. The group organizes its principal business activities into three core operational segments: Underwriting, Investments, and Real Estate. The company provides a comprehensive portfolio of personal and commercial Takaful solutions. Its personal insurance offerings encompass motor vehicle coverage, including comprehensive and third-party liability policies; medical and healthcare Takaful plans; Aman life Takaful solutions offering family financial protection, disability benefits, and education savings; worldwide travel insurance; homeowner and property insurance; private pleasure craft, yacht, and boat coverage; and domestic worker liability insurance. Its corporate insurance offerings comprise commercial property and fire insurance; engineering, contractor all risks, and erection all risks policies; marine cargo, hull, and machinery coverage; energy and industrial risk solutions; general third-party, product, and professional indemnity liabilities; group medical and employee life Takaful schemes; and commercial motor fleet policies. In addition to insurance underwriting, the group manages Shari'a-compliant investment portfolios, securities, financing operations, and real estate properties through affiliated entities and subsidiaries, including Al Muqawel Co. W.L.L., Tashelaat Islamic Co. W.L.L., and Qatar Unified Insurance Bureau W.L.L. The group serves a diverse clientele spanning retail consumers, corporate enterprises, financial institutions, and government infrastructure projects across Qatar, distributing its solutions through a network of domestic branches, an online customer portal, and dedicated mobile applications. The company maintains an A- (Excellent) Financial Strength Rating from AM Best, reflecting its balance sheet strength and operating performance. In recent developments, Qatar Islamic Insurance Group has advanced its digital transformation and market expansion strategy. The company entered into a strategic partnership with Qatari fintech firm PayLater, licensed by the Qatar Central Bank, to introduce a Shari'a-compliant Buy-Now-Pay-Later installment payment mechanism allowing policyholders to pay for insurance policies in interest-free installments. To broaden its geographic reach beyond the domestic market, the group has initiated the regulatory licensing process to establish an international branch office in India. Furthermore, the company has updated its corporate governance frameworks, including the reconstitution of board committees, while expanding its digital self-service channels and receiving industry recognition as the Takaful Insurance Company of the Year at the Middle East Insurance Industry Awards.