Qatar Insurance Co. · QSE:QATI
Qatar Insurance — QIC Group — 9M 2024 Earnings Presentation
25 slides from Qatar Insurance's earnings presentation, September 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION September 2024 Internal
Slide 2: Content
CONTENT Overview Financial Information Investments Business Information qic-group.com | PAGE: 2 Internal
Slide 3: QIC Group Overview
QIC Group Overview Group Overview Shareholder Base Leading insurance group in the Middle East & North Africa (MENA) region. Largest in terms of total asset and total equity in MENA. Government of Qatar 14.78% Composite insurer with a global underwriting footprint and a home base in the Qatari Ro
Slide 4: Global Presence
Global Presence Qatar Dubai & Abu Dhabi Oman Kuwait London QIC Group’s HQ and domestic QIC direct insurance Oman Qatar Insurance Kuwait Qatar Antares Group Holdings operations operations (UAE) Company Insurance Company Antares Lloyd’s Epicure Holdings LLC 1274 Syndicate Anoud Technol
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 & Reinsurance Asset Technologies Insurance Insurance Medical Management Personal lines ❖ Aviation ❖ Group Life ❖ Agriculture ❖ Investment ❖ En
Slide 6: Dominant position in the MENA Region
Dominant position in the MENA Region Regional comparison (FY 2023) 1 in USD million Total assets 7,880 4,908 3,848 1,546 2,099 2,401 Total equity 2,409 1,246 965 912 794 753 1 Source: Bloomberg Market leading insurance group in the MENA region in terms of total assets and total equity (as of FY 2023
Slide 7: Key Facts and Figures
Key Facts and Figures • Steadily evolved from a domestic player to a regional player with a global Solid Foundation ` ` presence • Insurance Revenue: QAR 6.4 billion • Total Equity: QAR 9.1 billion Strong Financials • Total Assets: QAR 27 billion • Market Capitalization: QAR 7.2 billion • Direct ins
Slide 8: Key milestones
Key milestones 1964 1968 2002 2004 2009 ❖ QIC established ❖ Dubai Branch ❖ Abu Dhabi Branch ❖ KQIC (Kuwait) and OQIC (Oman) ❖ Qatar Re established established established established 2017 2015 2014 2011 ❖ Qatar Re placed USD 450mn perpetual ❖ Qatar Re re-domiciled to ❖ QIC Europe Ltd established in
Slide 9: 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 value for Achieving ESG goals and metrics significantly improves the brand reputation, financial its shareholders, customers, society, and the envir
Slide 10: Financial Information
CONTENT Overview Financial Information Investments Business Information qic-group.com | PAGE: 10 Internal
Slide 11: Key Performance Indicators - IFRS
Key Performance Indicators - IFRS 4 Gross Written Premium in QAR Millions Combined Ratio 10,824 5.3% 9,366 19.5% 6.4% 6.3% 7.8% 7,875 16.9% 18.0% 19.3% 7,166 87.7% 75.4% 75.2% 71.1% 2022 2023 9M 2023 9M 2024 2022 112.5% 2023 98.7% 9M 2023 99.5% 9M 2024 98.2% Loss ratio Acquisition ratio Expense rati
Slide 12: Reorganizing Insurance Portfolio with Focus on Profitability
Reorganizing Insurance Portfolio with Focus on Profitability Gross written Premium – Optimizing Lines of Business Mix with Focus on Profitability (%) 9M 2024 25 26 10 13 12 10 3 1 2023 40 12 8 12 12 10 5 1 2022 50 4 7 9 15 9 4 2 2021 57 3 5 7 17 8 2 1 Motor Health & Life Energy Marine & Aviation Pro
Slide 13: Financial Performance
Financial Performance Insurance Revenue in QAR Millions Insurance Service Result in QAR Millions 11,222 414 10,089 300 255 7,785 6,425 2022 2023 9M 2023 9M 2024 2022 2023 9M 2023 9M 2024 (1,178) Insurance Service Result by region in QAR Millions 9M 2023 - QAR 255 Million 9M 2024 - QAR 414 Million 22
Slide 14: Balance Sheet Strength
Balance Sheet Strength Total Equity in QAR Millions Total Assets in QAR Millions 9,161 29,827 28,682 27,374 8,114 8,767 2022 2023 9M 2024 2022 2023 9M 2024 Assets Ratios Key asset ratios 2022 2023 9M 2024 Invested Assets to Total Assets 64% 68% 70% Invested Assets to Net Technical Reserves 176% 191%
Slide 15: Strong Capital Base & Solvency Capital Ratio
Strong Capital Base & Solvency Capital Ratio Solvency Ratio - QCB Solvency Ratio – S&P As per QCB 2021 2022 2023 H1 2024 As per S&P 2020 2021 2022 Eligible Capital 10,083 7,602 7,449 7,908 Solvency Ratio 122% 124% 121% Solvency Ratio 193% 171% 188% 181% 122% 124% 193% 121% 188% 181% 171% 2021 2022 2
Slide 16: QIC Group Reported Financials – Income Statement
QIC Group Reported Financials – Income Statement (QAR Mn) for the period 9M 2023 9M 2024 Insurance Revenue 7,784 6,425 Insurance Service Results 255 414 Net Insurance Financial Results (285) (290) Investment and Other Income 743 712 G&A Expenses (260) (311) Profit after Tax 453 525 qic-group.com | P
Slide 17: QIC Group Reported Financials – Balance sheet
QIC Group Reported Financials – Balance sheet (QAR Mn) as at Dec 2022 Dec 2023 Sep 2024 ASSETS Cash and cash equivalents 7,364 5,888 4,951 Reinsurance contract assets 6,017 6,227 5,025 Insurance contract assets 418 173 223 Other receivables 587 259 364 Investments 14,245 14,953 15,331 Investment pro
Slide 18: Investments
CONTENT Overview Financial Information Investments Business Information qic-group.com | PAGE: 18 Internal
Slide 19: Stable Investment Portfolios & Yields
Stable Investment Portfolios & Yields Investment Portfolio (QAR Mn) & Composition Investment Income (QAR Mn) & Portfolio Yields 8.0% 5.2% 4.5% 7.0% 6.0% 1,000 5.0% 19,199 19,387 19,158 4.0% 5.0% 3.0% 4% 4% 5% 800 2.0% 1.0% 7% 8% 9% 600 0.0% -1.0% 1,004 -2.0% 11% 9% 9% 400 865 -3.0% 712 -4.0% -5.0% 2
Slide 20: Investment Portfolio Details
Investment Portfolio Details Fixed income: Rating Fixed income - Geographic mix Fixed income - Mix by sector 5% 2% 8% 5% 4% 1% 11% 5% 23% 7% 46% 37% 24% 14% 58% 35% 15% MENA America (exc. LATAM) Financial Government A- & Above BBB- to BBB+ Europe Asia incl. Australia Exploration & Production Consume
Slide 21: Business Information
CONTENT Overview Financial Information Investments Business Information qic-group.com | PAGE: 21 Internal
Slide 22: 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 2022 Tier-2 Issue Refinanced 2017 Tier-2 issue with USD 400m raise ❖ Balance sheet strength supported by risk-adjusted 2020 Tier-2 Issue Total equity increased by USD 300
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 and ahead of its peers in MENA o Significant growth potential in MENA insurance markets USD 1 billion USD 50 billion Antares Re Antares Re GWP GWP Top 10
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 qic-group.com | PAGE: 25 Internal