Qatar Insurance Co. · QSE:QATI
Qatar Insurance — 9M 2022 Earnings Presentation
39 slides from Qatar Insurance's earnings presentation, September 2022
Slide 1: Qatar Insurance Group September 2022
QIic tS QATAR INSURANCE GROUP September 2022
Slide 2: Largest insurance powerhouse in the MENA region
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Founded in 1964, Qatar Insurance Company (QIC) is the largest insurance powerhouse in the MENA region 2
Slide 3: Overview on Qatar
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams OVERVIEW ON QATAR QATAR AT A GLANCE QATAR NATIONAL VISION 2030 Qatar is a peninsula located in the Persian Gulf and is member of the Qatar National Vision (QNV) 2030 aims to dive
Slide 4: Overview of QIC
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams OVERVIEW OF QIC GROUP OVERVIEW SHAREHOLDERS QIC is the market leading insurance group in the MENA region in terms of total Government of Qatar asset and gross written premiums 14.3
Slide 5: QIC - Key Facts and Figures - Sep 2022
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams QIC - KEY FACTS AND FIGURES – Sep 2022 QIC steadily evolved from a domestic player to a regional leader on to global Solid foundation ambitions over 58 years GWP: QAR 7.8 billion
Slide 6: QIC's Growth and Key Milestones Since Its Inception
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams QIC’S GROWTH AND KEY MILESTONES SINCE ITS INCEPTION 1964 1968 2002 2004 QIC established Dubai Branch Abu Dhabi Branch KQIC (Kuwait) and OQIC established established (Oman) es
Slide 7: Sustained Growth from Diversified Sources
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams SUSTAINED GROWTH FROM DIVERSIFIED SOURCES Net income Earnings per share Market Capitalization in QAR million in QAR in QAR million 2022 9M 571 0.138 7,675 2021 630 0.143 8,982 2020 1
Slide 8: Balance Sheet Strength Underpinned by Strong Access to Capital
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams 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
Slide 9: Financial Performance
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams FINANCIAL PERFORMANCE Gross written premiums in QAR million Underwriting results in QAR million 12,060 12,202 12,647 350 282 272 7,834 (595) 2019 2020 2021 2022 9M 2019 2020 2021 202
Slide 10: Key Credit Highlights
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams KEY CREDIT HIGHLIGHTS Dominant Domestic and Regional Market Position Strong and diverse competitive position, supporting its regional GCC operations and substantial reinsurance inc
Slide 11: QIC's Path to ESG Integration
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams QIC’S PATH TO ESG INTEGRATION Develop a framework which Integrate ESG into the Group’s Obtain an ESG rating with a outlines the mechanism for underwriting, investment and leading glo
Slide 12: QIC's Commitment to ESG Integration
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams QIC’S COMMITMENT TO ESG INTEGRATION “QIC’s Board of Directors recently agreed to commit the company to support Qatar’s endeavor to reduce the country’s greenhouse gas emissions by 25
Slide 13: Strategy
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Strategy 13
Slide 14: Global Footprint and Consolidating Regional Leadership
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams GLOBAL FOOTPRINT AND CONSOLIDATING REGIONAL LEADERSHIP Bermuda London Zurich Malta Singapore Gibraltar • Qatar Re US & • Antares Group • Qatar Re • QIC Europe Ltd • Antares Asia • We
Slide 15: QIC's Broad Spectrum of Capabilities
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams QIC’S BROAD SPECTRUM OF CAPABILITIES QIC GROUP WELL DIVERSIFIED MULTI-PILLAR BUSINESS SET-UP QIC Antares QIC - MENA Qatar Re Epicure IM Anoud Direct Lloyd’s Life & Medical Reinsuranc
Slide 16: Competitive Position
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Competitive Position 16
Slide 17: Dominant Position in the MENA Region
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams DOMINANT POSITION IN THE MENA REGION Regional comparison (FY 2021) 1 in USD million Total assets 11,967 4,008 3,396 2,471 2,357 2,072 1,271 1,130 819 Total equity 3,072 1,149 1,406 8
Slide 18: Significant Potential for Global and Regional Growth
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams SIGNIFICANT 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
Slide 19: Performance
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Performance 19
Slide 20: Strong Track Record of Top-Line Growth and Bottom-Line
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams STRONG TRACK RECORD OF TOP-LINE GROWTH AND BOTTOM-LINE Key Highlights (QAR million) 2019 2020 2021 2022 9M Gross written premiums 12,060 12,202 12,647 7,834 Underwriting results 282
Slide 21: Key Performance Metrics
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams KEY PERFORMANCE METRICS 120.0% 5.5% 100.0% 6.2% 5.9% 4.1% 24.7% 18.4% 28.9% 26.9% 80.0% 60.0% 40.0% 82.0% 76.8% 68.3% 69.1% 20.0% 0.0% 2019 - 103.4% 2020 - 112.2% 2021 -101.9% 9M 202
Slide 22: Gross Written Premiums - Lines of Business Split
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams GROSS WRITTEN PREMIUMS –LINES OF BUSINESS SPLIT 9M 2022 43% 5% 9% 11% 17% 9% 4% 2% 2021 56% 3% 5% 7% 18% 8% 1% 2% 2020 48% 4% 4% 8% 25% 8% 1% 2% 2019 51% 4% 4% 7% 20% 8% 3% 2% Motor
Slide 23: Gross Written Premiums - Geographical Split
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams GROSS WRITTEN PREMIUMS – GEOGRAPHICAL SPLIT 10% 9% 8% 13% 9% 10% 11% 17% 81% 81% 81% 70% 2019 2020 2021 9M 2022 International Domestic Regional 2022 results exclude the effect of dis
Slide 24: Strong Investment Portfolio and Yield
Risk Risk free At a Glance Strategy Competitive Position Performance Organisation Appendix Management Revenue Streams STRONG INVESTMENT PORTFOLIO AND YIELD Invested Assets vs investment and other income in QAR million Investment portfolio composition – 2022 9M 22,132 21,570 20,553 17,617 3% 3% 2% 2%
Slide 25: Focus on Sector Balance and Security of Investments
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams FOCUS ON SECTOR BALANCE AND SECURITY OF INVESTMENTS Fixed income: Rating Fixed income: Geographic mix Fixed income: Mix by sector 2% 3% 4% 1% 3% 5% 6% 15% 33% 7% 48% 40% 13% 55% 20%
Slide 26: Excellent Financial Strength Ratios
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams EXCELLENT FINANCIAL STRENGTH RATIOS Assets % 2019 2020 2021 2022 9M Invested assets to total assets 52% 51% 51% 50% Invested assets to net technical reserves 133% 137% 140% 125% Cash
Slide 27: Stable and Resilient Credit Rating Strength
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams STABLE AND RESILIENT CREDIT RATING STRENGTH Rating: ‘A’ Outlook – Negative “QIC benefits from a diverse competitive position supported by its leading domestic standing, regional Gulf
Slide 28: Organisation
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Organisation 28
Slide 29: Strong Geographic and Sector Diversification
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams STRONG GEOGRAPHIC AND SECTOR DIVERSIFICATION Group level Operations MENA - region Direct Insurance: Reinsurance: Lloyds Re/insurance: Life and Medical: Asset IT Solutions: management
Slide 30: Risk Management
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Risk Management 30
Slide 31: Strict Adherence to Clearly Defined ERM Procedures
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams STRICT ADHERANCE TO CLEARLY DEFINED ERM PROCEDURES Risk Management at QIC Enterprise risk management cycle o ERM is broken down into Risk Management, Capital Management and Exposure
Slide 32: Risk Free Revenue Streams
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams Risk Free Revenue Streams 32
Slide 33: Epicure Investment Management
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams EPICURE INVESTMENT MANAGEMENT Assets Under Management (31 Dec 2021) – USD7.49 Bn Awards and Recognition QIC Group Assets USD6.24 Bn QIC GCC Equity Fund – Top Rated GCC Equity Fund. R
Slide 34: Anoud Technologies
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams ANOUD TECHNOLOGIES ANOUD TECHNOLOGIES AT A GLANCE LEADING INSURTECH COMPANY WITH A BEST-IN-CLASS CORE INSURANCE SYSTEM Established in March 2020 Anoud Tech was the 1st InsurTech co
Slide 35: Anoud Technologies - Long-Term Partnership with Swiss Re
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams ANOUD TECHNOLOGIES - LONG-TERM PARTNERSHIP WITH SWISS RE Anoud Tech and Swiss Re are jointly pursuing the digital transformation of the insurance industry + Advisory services for Int
Slide 36: Appendix
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams 36
Slide 37: Income Statement, 2019 - 2022 9M
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams INCOME STATEMENT, 2019 – 2022 9M Particulars ( all figures in QAR ‘000) 2019 2020 2021 2022 9M Gross written premium 12,059,943 12,201,733 12,646,967 7,834,486 Net earned premium 9,9
Slide 38: Balance Sheet, 2019 - 2022 9M
Risk free At a Glance Strategy Competitive Position Performance Organisation Risk Management Appendix Revenue Streams BALANCE SHEET, 2019 – 2022 9M Balance Sheet (QAR ‘000) 2019 2020 2021 2022 9M ASSETS Cash and cash equivalents 8,544,700 8,212,111 9,598,999 7,812,847 Insurance and other receivables
Slide 39: Expanding Globally, Leading Regionally
Lpouli| Qpadoll oy Lytle ji Expanding Globally, Leading Regionally, Cpebatlenil =") tone QATAR INSURANCE GROUP Bermuda London Singapore Qatar Kuwait Zurich Malta Shanghal UAE Oman
Qatar Insurance Company (QIC) — 9M 2022 Earnings Presentation on 6ix