Qatar Insurance Co. · QSE:QATI
Qatar Insurance — Investor Presentation (June 2024)
25 slides from Qatar Insurance's investor presentation, June 2024
Slide 1: Qatar Insurance Company Investor Presentation
Qatar Insurance Company Investor Presentation June 2024
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 14.78% • Composite insurer with a global underwriting footprint and a home Qatari Royal Family base in the GCC 8.83% • 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 4.3 billion • Total Equity: QAR 8.9 billion Strong Financials • Total Assets: QAR 28 billion • Market Capitalization: QAR 6.9 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 Bermuda Malta ❖ Q-Life & Medical ❖ Qatar Re established 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: Content: Financial Information
CONTENT Overview Financial Information Investments Business Information
Slide 10: Key Performance Indicators - IFRS
KEY PERFORMANCE INDICATORS - IFRS 4 Gross Written Premium in QAR Millions Combined Ratio 5.3% 10,824 19.5% 6.4% 6.3% 8.1% 9,366 16.9% 18.1% 18.4% 5,499 4,833 87.7% 75.4% 74.2% 72.0% 2022 2023 H1 2023 H1 2024 2022 112.5% 2023 98.7% H1 2023 98.6% H1 2024 98.5% Loss ratio Acquisition ratio Expense rati
Slide 11: Key Performance Indicators - IFRS
KEY PERFORMANCE INDICATORS - IFRS 4 Gross written Premium – Lines of Business split (%) H1 2024 21 28 12 14 11 9 3 2 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 21 Motor Health & Life Energy Marine & Aviation Property Liability Agriculture Credit & Surety Gross written Premiu
Slide 12: Performance
PERFORMANCE Insurance Revenue in QAR Millions Insurance Service Result in QAR Millions 6,889 6,309 747 4,319 339 236 2022 2023 H1 2023 H1 2024 2022 2023 H1 2024 (465) Insurance Service Result by region in QAR Millions H1 2024 – QAR 339 Million H1 2023 - QAR 236 Million 143 M 93 M 150 M 189 M 61% 39%
Slide 13: Performance
PERFORMANCE Total Equity in QAR Millions Total Assets in QAR Millions 29,827 28,682 27,992 8,114 8,767 8,882 2022 2023 H1 2024 2022 2023 H1 2024 Assets Ratios Key asset ratios H1 2024 2023 2022 Invested Assets to Total Assets 66% 68% 64% Invested Assets to Net Technical Reserves 192% 191% 176% Cash
Slide 14: Key Ratios
KEY RATIOS Solvency Ratio - QCB Solvency Ratio – S&P As per QCB 2021 2022 2023 Q1 2024 As per S&P 2020 2021 2022 Eligible Capital 10,083 7,602 7,449 7,390 Solvency Ratio 122% 124% 121% Solvency Ratio 193% 171% 188% 186% 193% 188% 122% 124% 186% 121% 171% 2021 2022 2023 Q1 2024 2020 2021 2022 QCB Sol
Slide 15: Income Statement H1 2024
INCOME STATEMENT H1 2024 Particulars ( all figures in QAR ‘000) H1 2024 H1 2023 Insurance Revenue 4,318,516 5,160,872 Insurance Service Results 338,969 236,193 Net Insurance Financial Results (222,373) (231,884) Investment and Other Income 465,463 501,144 G&A Expenses (221,923) (180,002) Profit afte
Slide 16: Balance Sheet Dec 2022 – June 2024
BALANCE SHEET Dec 2022 – June 2024 Balance Sheet (QAR ‘000) Dec 2022 Dec 2023 June 2024 ASSETS Cash and cash equivalents 7,363,766 5,888,333 5,114,126 Reinsurance contract assets 6,017,244 6,226,908 6,085,284 Insurance contract assets 417,546 173,460 74,805 Other receivables 586,922 259,094 371,670
Slide 17: Content: Investments
CONTENT Overview Financial Information Investments Business Information
Slide 18: Investment Portfolio & Investment Income
INVESTMENT PORTFOLIO & INVESTMENT INCOME Invested Assets vs investment and other income in QAR million Investment portfolio composition QIC GROUP 24,000 5.2% 5.0% 4.5% 20,000 19,387 19,199 16,000 18,541 3.0% 4% 4% 5% 12,000 7% 8% 9% 8,000 11% 9% 9% 4,000 1,004 865 465 15% 0 -2.0% 20% 20% 2022 2023 H
Slide 19: Investment Portfolio Details
INVESTMENT PORTFOLIO DETAILS Fixed income: Rating Fixed income - Geographic mix Fixed income - Mix by sector 4% 1% 5% 5% 4% 2% 5% 14% 23% 7% 49% 38% 13% 56% 24% 34% 16% MENA America (exc. LATAM) Financial Government A- & Above BBB- to BBB+ Europe Asia incl. Australia Exploration & Production Consume
Slide 20: Content: 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 2023) 1 in USD million Total assets 7,880 4,908 3,848 2,099 2,401 1,546 Total equity 2,409 1,246 965 912 794 753 Market leading insurance group in the MENA region in terms of total assets and total equity (as of FY 2023) 1 Source: Bloomber
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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