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Moody's Investors Service has today upgraded to Baa1 from Baa2 the insurance financial strength rating (IFSR) of the Qatar Islamic Insurance Company ("QIIC"). The rating carries a stable outlook. The rating upgrade for QIIC reflects (i) the company's improved and extremely strong capitalisation in relation to insurance risk; and (ii) its sustained strong profitability both in terms of underwriting profit and of bottom line. Nonetheless, Moody's added that QIIC maintains a significant level of investment risk, as QIIC invests predominantly in Qatari equity and property markets, translating to a high risk assets ratio. Furthermore, QIIC's insurance risk remains relatively concentrated to Qatar. The outlook is stable reflecting the expectation that the improvements in QIIC's capitalization will be maintained.

According to the Qatar Islamic Insurance Company (QIIC) the ratings agency Moody's Investors Service has affirmed its insurance financial strength rating (IFSR) 'Baa2'. It changed from “Stable” to “Positive”. This is based on the ongoing strong performance. Moody’s here see the reflection of the very strong capitalization in relation to the insurance risk. A sustained strong profitability on the underwriting average Return on Capital and the average combined Ratio was another reason. QIIC is one of the world’s leading Islamic insurance companies. The company recorded a 3 percent increase in gross contributions in 2013. This was largely driven by an increase in General Accident, Takaful Life and Health business.

Qatar Islamic Insurance Company has reported a 3% rise in first-half net profit to QR35.84mn despite expenses growing faster than income mainly due to a 13% rise in general and administrative costs. Income from investments in associates almost quadrupled to QR3.97mn, rental income grew 16% to QR4.53mn, wakala fee by 8% to QR23.98mn and other income by 28% to QR1.06mn. However, income from shareholders’ investments shrank 30% to QR6.73mn and shareholders’ share in policyholders’ investment income by 5% to QR7.74mn. Nevertheless, total income grew 5% to QR48mn. Total assets were valued at QR662.22mn comprising policyholders’ assets of QR365.41mn and shareholders’ assets of QR296.81mn. Total shareholders’ equity stood at QR263.39mn on a capital base of QR150mn and earnings-per-share was QR2.39 at the end of June 30, 2013.

Qatar Islamic Insurance Company ( QIIC ) Chairman Sheikh Abdulla bin Thani Al Thani has said that his firm would pursue its strategic plans for the Years 2013-2015 to ensure its continued growth. The company recorded good results in 2012 by generating a premium of QR206m and aggregate net profit of QR74m. The shareholders' profit reached QR58m, constituting earnings per share of QR3.5. The general assembly on Sunday approved the company's nine-point agenda, including its financial statements for the year 2012 and election of two people in the current QIIC Board of Directors.

According to Qatar Islamic Insurance Company (QIIC) Chairman Sheikh Abdulla bin Thani Al Thani, the company recorded good results in 2012 by generating a premium of QR206m and aggregate net profit of QR74m, of which net policyholders’ surplus amounted to QR16m.He noted the shareholders’ profit reached QR58m, constituting earnings per share of QR3.5. The Board of Directors, in co-ordination with the Shariah Supervisory Board, has decided to reimburse policyholders with cash surplus equaling 20 percent of the premiums written in 2012. The general assembly approved the company’s nine-point agenda, including its financial statements for the year 2012 and election of two people in the current QIIC Board of Directors.

A key joint venture of Qatar Islamic Insurance Company in Pakistan has in collaboration with a local bank and FWU AG launched lucrative Shariah-compliant long-term savings schemes.
Pak-Qatar Family Takaful Limited has inked a deal in Karachi with Dawood Islamic Bank Limited and FWU AG to provide bank customers long-term savings plans enabling them to secure their future financially.
According to the strategic agreement, Dawood Islamic Bank would distribute Shariah compliant Bancassurance (BancaTakaful) products across its branch network.
The agreement was signed by CEO Pak-Qatar Family Takaful P Ahmed, and Pervez.
These products will provide DIB’s customers with Long term Savings plans specifically catered to fulfil their future financial needs.