Qatar Insurance Profit Falls 5% from Conflict Claims

Int’l Desk: Qatar Insurance Company reported a modest decline in first-half profits for 2026 after absorbing higher claims and additional reserves tied to the ongoing regional geopolitical conflict.

Net profit came in at 365 million Qatari riyals, down roughly 5% from the same period a year earlier. Profit attributable to the company’s shareholders stood at 354 million riyals, a drop of 5.4% as reported by The Peninsula Qatar from the company’s own disclosures.

The pressure showed most clearly in the insurance service result, which fell 8.4% to 202 million riyals.

Management attributed the weaker underwriting outcome to claims and reserving related to the conflict, an event the company described as exceptional and without recent precedent for the sector. The impact was concentrated mainly in QIC’s international operations, particularly specialty lines covering war, terrorism, political violence and related marine risks.

Despite the hit to underwriting, the group still delivered solid growth elsewhere. Insurance revenue rose 15% to 4.8 billion riyals, while gross written premiums increased 4.3% to 5.9 billion riyals.

Investment income also improved, climbing 2.8% to 477 million riyals and generating a yield of 5.3%. Those gains helped cushion the overall result and kept earnings broadly in line with the prior-year period.

Company executives framed the outcome as resilient, pointing to disciplined underwriting, a diversified portfolio and a strong balance sheet that allowed QIC to absorb the shock while continuing to expand its core business.

Reserves remained adequate and aligned with actuarial estimates.