Qatar Insurance Co. · QSE:QATI
Qatar Insurance — Investor Presentation (September 2023)
25 slides from Qatar Insurance's investor presentation, September 2023
Slide 1: Qatar Insurance Company Investor Presentation
Qatar Insurance Company Investor Presentation September 2023
Slide 2: Content
CONTENT Overview Financial Information Investments Business Information
Slide 3: QIC at a Glance
QIC AT A GLANCE GROUP OVERVIEW SHAREHOLDERS • Leading insurance group in the MENA region in terms of total asset and total equity Government of Qatar 14.52% • Composite insurer with a global underwriting footprint and a home Qatari Royal Family base in the GCC 9.41% • Founded in 1964, QIC was the fi
Slide 4: Global Presence
GLOBAL PRESENCE Bermuda London Zurich Malta Singapore Gibraltar • Antares Re US & • Antares Group • Antares Re • QIC Europe Ltd • Antares Asia • West bay NatCat Holdings Continental Europe Insurance Plc • Antares Re HQ • Antares Lloyd’s and global and other non- 1274 Syndicate operations life carrie
Slide 5: Broad Spectrum of Capabilities
BROAD SPECTRUM OF CAPABILITIES QIC GROUP WELL DIVERSIFIED MULTI-PILLAR BUSINESS SET-UP QIC Antares QIC - MENA Antares Re Epicure IM Anoud Direct Lloyd’s Life & Medical Reinsurance Asset Technologies Insurance Insurance Management Personal lines ❖ Aviation ❖ Group Life ❖ Agriculture ❖ Investment ❖ En
Slide 6: Key Facts and Figures
KEY FACTS AND FIGURES Solid Foundation Steadily evolved from a domestic player to a regional player with a global presence • Insurance Revenue: QAR 4.6 billion • Total Equity: QAR 8.2 billion Strong Financials • Total Assets: QAR 28 billion • Market Capitalization: QAR 8 billion • Direct insurance •
Slide 7: Key Milestones
KEY MILESTONES 1964 1968 2002 2004 ❖ QIC established ❖ Dubai Branch established ❖ Abu Dhabi Branch ❖ KQIC (Kuwait) and OQIC established (Oman) established 2015 2014 2011 2009 ❖ Qatar Re re-domiciled to ❖ QIC Europe Ltd established in Malta ❖ Q-Life & Medical ❖ Qatar Re established Bermuda establishe
Slide 8: ESG Initiatives to lead the space in the MENA region
ESG Initiatives to lead the space in the MENA region ESG – Purpose and backdrop QIC is an environmentally and socially responsible citizen, and creates Achieving ESG goals and metrics significantly improves the brand reputation, value for its shareholders, customers, society, and the environment fin
Slide 9: Financial Information
CONTENT Overview Financial Information Investments Business Information
Slide 10: Performance
PERFORMANCE Gross written Premium – Lines of Business split (%) 2023 9M 36 12 8 14 14 10 5 1 2022 45 5 8 10 16 10 4 2 2021 44 4 6 9 22 11 3 1 2020 37 5 5 10 30 10 21 Motor Health & Life Energy Marine & Aviation Property Liability Agriculture Credit & Surety Gross written Premium – Geographical split
Slide 11: Performance
PERFORMANCE Insurance Revenue in QAR Millions Insurance Service Result in QAR Millions 5,352 4,648 673 14 2022 9M 2023 9M 2022 9M 2023 9M Net Insurance Financial Result in QAR Millions Investment Income (in QAR Millions) and Yield (in %) 5.3% 5.1% 6.0% 800 5.0% 671 681 4.0% 3.0% (6) 600 2.0% 1.0% 0.
Slide 12: Performance
PERFORMANCE Total Equity in QAR Millions Total Assets in QAR Millions 29,183 28,128 7,897 8,226 2022 2023 9M 2022 2023 9M Assets Ratios % 2022 2021 2020 2019 Invested Assets to Total Assets 53 51 51 52 Invested Assets to Net Technical Reserves 117 140 137 133 Cash and Bank Deposits to Net Technical
Slide 13: Key Ratios
KEY RATIOS Solvency Ratio - QCB Solvency Ratio – S&P As per QCB 2019 2020 2021 2022 As per S&P 2020 2021 2022 Eligible Capital 9,283 9,806 10,083 7,602 Solvency Ratio 122% 124% 121% Solvency Ratio 181% 188% 193% 171% 181% 188% 193% 171% 122% 124% 121% 2019 2020 2021 2022 2020 2021 2022 QCB Solvency
Slide 14: Income Statement 2023 9M
INCOME STATEMENT 2023 9M Particulars ( all figures in QAR ‘000) 2022 9M 2023 9M Insurance Revenue 5,352,050 4,647,669 Insurance Service Result 13,608 672,763 Net Insurance Financial Result (5,703) (260,941) Investment and Other Income 671,270 681,238 G&A Expenses (163,110) (220,974) Profit after Tax
Slide 15: Balance Sheet Jan 2022 – Sep 2023
BALANCE SHEET Jan 2022 – Sep 2023 Balance Sheet (QAR ‘000) Jan 2022 Dec 2022 Sep 2023 ASSETS Cash and cash equivalents 9,595,733 6,473,253 5,657,872 Reinsurance contract assets 5,527,307 1,885,998 1,476,232 Other receivables 1,037,708 686,506 541,322 Investments 16,508,976 13,196,155 12,909,681 Inve
Slide 16: Investments
CONTENT Overview Financial Information Investments Business Information
Slide 17: Strong Investment Portfolio
STRONG INVESTMENT PORTFOLIO Invested Assets vs investment and other income* in QAR million Investment portfolio composition QIC GROUP 21,570 19,355 17,243 17,202 3% 2% 4% 3% 6% 9% 7% 7% 1,083 6% 748 834 681 8% 11% 9% 2020 2021 2022 2023 9M 18% Invested Assets Investment and other income 24% 20% 25%
Slide 18: Sector Balance and Security of Investments
SECTOR BALANCE AND SECURITY OF INVESTMENTS Fixed income - Rating Fixed income - Geographic mix Fixed income - Mix by sector 2% 4% 4% 1% 3% 5% 5% 15% 33% 8% 49% 39% 13% 56% 23% 24% 16% A- & Above BBB- to BBB+ America (exc. LATAM) MENA Financial Government Europe Asia incl. Australia Exploration & Pro
Slide 19: Epicure Investment Management
EPICURE INVESTMENT MANAGEMENT Assets UnderEPICURE INVESTMENT Management MANAGEMENT (31 Dec 2022) – USD7.5 Bn Awards and Recognition QIC Group Assets USD 5.8 Bn ❖ QIC GCC Equity Fund – Top Rated GCC Equity Fund. Rated “5 star” by Morningstar. Equities Fixed Cash and Alternatives USD 348 Income Deposi
Slide 20: Business Information
CONTENT Overview Financial Information Investments Business Information
Slide 21: Balance Sheet Strength Underpinned by Strong Access to Capital
BALANCE SHEET STRENGTH UNDERPINNED BY STRONG ACCESS TO CAPITAL Balance Sheet Strength Equity and Debt Capital Market Track Record Refinanced 2017 Tier-2 issue with 2022 Tier-2 Issue ❖ Balance sheet strength supported by risk- USD 400m raise adjusted capitalization with proven ability to 2020 Tier-2
Slide 22: Dominant Position in the MENA Region
DOMINANT POSITION IN THE MENA REGION Regional comparison (FY 2022) 1 in USD million 10,476 Total assets 5,042 3,815 2,254 2,719 2,499 1,447 1,075 776 Total equity 2,454 1,145 1,252 897 732 670 343 172 248 Market leading insurance group in the MENA region in terms of total assets and total equity (as
Slide 23: Potential for Global and Regional Growth
POTENTIAL FOR GLOBAL AND REGIONAL GROWTH QIC domestic/regional GWP MENA Life & Non-Life QIC Domestic and regional o Dominant market share in Qatar QIC GROUP and ahead of its peers in MENA o Significant growth potential in MENA insurance markets USD 0.8 billion USD 50 billion Antares Re Qatar Re GWP
Slide 24: Disclaimer
DISCLAIMER NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933 (THE “SECURITIES ACT”)) OR IN OR INTO AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY
Slide 25: Thank You
THANK YOU
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