Qatar Islamic Insurance Company, one of the fastest growing insurance companies in Qatar and a national company with international reach, started transacting business in 1995. Our company is committed to providing customers with the full range of comprehensive insurance products and services in conformity with Islamic Sharia standards and principles.
Our bouquet of insurance products is the most comprehensive in Qatar comprising all risks from aviation (for example) to personal lines – that is, covers for individuals and their families. Our clients include major companies, banks and public sector employers. At the same time, our personal lines are rapidly expanding. Whatever your requirements, and wherever in the world you are, QIIC has the products and services you need.
Because QIIC conducts its business on the basis of cooperative insurance in line with Islamic principles, our customers benefit in another way. This cooperative style of insurance means that any insurance surplus left after deduction of expenses is given back to the policyholders in the form of cash dividends. which have been made to policyholders every year since the company was founded back in 1995, and they have more than trebled in this time (from 5 % at the end of 1995 to 18 % in 2007).
QIIC was among the first Islamic insurance companies in the world to introduce Takaful services (the Islamic alternative to life insurance) back in 2000; and this is now one of our fastest growing classes of business. We are the first insurance company to offer our Takaful products on-line, giving all our customers the benefits of instant access to this popular product anywhere, any time.
QIIC has maintained a track record of consistent growth every year since its formation in 1995 in spite of increasing local, regional and global competition. We have posted consistently healthy gains in all classes of our business and achieved excellent aggregate net profits in 2007 exceeding QR 60.5 million ( USD 16.6 million ).
We look forward to the future with confidence and trust that we shall, by the grace of God, continue to provide comprehensive Takaful insurance products and services to our growing community of customers across the world, building on our successful record of developing innovative and attractive products and services and providing the highest standards of customer care.