QIC strengthens reserves as US-Iran conflict hits its international specialty lines
Qatar Insurance Company said the US-Iran conflict affected its nine-month insurance service result, mainly through specialty lines written internationally. It strengthened reserves for the event, holds them on a best-estimate basis and sees no need for further management action now.
GCC desk AI-assisted summary · Source checkedReported by Middle East Insurance Review on Summary published 2 November 2026
Illustration. Not a photograph of the event.
Qatar Insurance Company (QIC) said the US-Iran conflict affected its insurance service result for the first nine months of 2026, Middle East Insurance Review reported. The impact sits mainly in its international operations, in specialty lines written in overseas markets. QIC strengthened reserves for the event during the period and holds them on an actuarial best-estimate basis, but ultimate losses remain uncertain while the conflict continues and claims develop.
The group noted that war perils are generally excluded from most insurance products unless specifically underwritten. It is assessing the availability and recoverability of its reinsurance protections, and said its investment portfolio remains exposed to market volatility from regional developments. QIC said no additional management actions are needed at this stage and that, excluding the conflict, its underlying underwriting stayed resilient.
Qatar Insurance Company earned net profit of QAR562m ($154m) in the nine months to 30 September 2026, down 4.3% year on year. Insurance revenue grew 14% to QAR7.4bn, while the insurance service result fell 4.7% to QAR336m.
Qatar Insurance Company (QIC) published its financial results for the first three quarters of 2026, according to Atlas Magazine, though the stored text carries no figures.
