qatar insurance company
Qatar Insurance Company’s Doha operation was started in 1964 to service the nation’s then nascent economy. Qatar Insurance was conceived and founded by the Emiri Decree, on the 11th of March 1964. The currency of Qatar at that time was the Indian Rupee and QIC’s paid up capital was Indian Rupees 1,500,000, a princely sum in those days. It began by supporting the insurance needs of individuals and businesses as the only insurance company in the country and remained so for many years before the economy was opened for other insurance companies.
The first office establishment was in the heart of the old souq area as that was the business district of the times. In the early 1980’s QIC recognized that a bold move should be made and decided to relocate to the West Bay area. However, precious little development had taken place and it was clear that the company would need to construct its own building.
QIC’s first own building was completed and occupied in early 1984, For many a year the QIC tower was a landmark to the Qatari and expatriate alike. It has remained a prominent image with its distinctive logo, only recently being crowded by the self assured towers that are being established throughout the West Bay and Diplomatic area. While QIC gave the financial support to the capital available and employed in the country, the individuals benefited from our strong ethical standards in claims handling and fulfillment of insurance contracts. We have gone to great length in satisfying our customers which has enabled us to always remain the most dominant insurer in the country.
The faith and patronage gave us the inspiration to adhere to the associated commitments and manage our finances prudently. QIC achieved a financial standing of ‘A- ‘by Standard and Poor in 2002 which is now upgraded to ‘A strong’ since 2007. This is a reflection of our strong ability to honour our financial commitments and manage our liabilities. A sign of financial security that you can count on.
QIC has built-up strong business processes in its conduct of operations and obtained certifications for the same in order to ensure world standards for its customers. QIC has acquired ISO 9001 certification, an internationally recognised quality management system standard.
