Qatar Insurance Co. · QSE:QATI
Qatar Insurance — Debt Investor Presentation (2022)
28 slides from Qatar Insurance's debt investor presentation, 2022
Slide 1: Qatar Insurance Company Investor Presentation Financial year 2022
Qatar Insurance Company Investor Presentation Financial year 2022
Slide 2: 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 3: Table of Content
TABLE OF CONTENT Overview Financial Information Business Information Appendix
Slide 4: Overview - Qatar at a Glance
OVERVIEW - QATAR AT A GLANCE 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 diversify the economy Gulf Cooperation Council away from a government-led initiatives towards private sector ❖
Slide 5: Overview - QIC at a Glance
OVERVIEW - QIC AT A GLANCE GROUP OVERVIEW SHAREHOLDERS • QIC is the market leading insurance group in the MENA region in terms of total asset and gross written premiums Government of Qatar 14.44% • The Group is a composite insurer, with a global underwriting Qatari Royal Family footprint and a home
Slide 6: Overview - Global Presence
OVERVIEW - GLOBAL PRESENCE Bermuda London Zurich Malta Singapore Gibraltar • Qatar Re US & • Antares Group • Qatar Re • QIC Europe Ltd • Antares Asia • West bay NatCat Holdings Continental Europe Insurance Plc • Qatar Re HQ • Antares Lloyd’s and global and other non 1274 Syndicate operations life ca
Slide 7: Overview - Key Facts and Figures
OVERVIEW - KEY FACTS AND FIGURES QIC steadily evolved from a domestic player to a regional leader on to global Solid foundation ambitions over 58 years Strong financials • GWP: QAR 9.8 billion • Total Equity: QAR 8.9 billion • Total Assets: QAR 38 billion • Market Capitalization: QAR 5.5 billion • D
Slide 8: Overview - Key Milestones
OVERVIEW - 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 Bermuda established
Slide 9: Overview - Key Credit Highlights
OVERVIEW - KEY CREDIT HIGHLIGHTS Dominant Domestic and Regional Market Position • Strong and diverse competitive position, supporting its regional GCC operations and substantial reinsurance income stream globally • Largest insurance group in MENA region by Total Assets, Total Equity and Gross Premiu
Slide 10: Overview – Path to ESG Integration
OVERVIEW – 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 global rating agency achieving ESG goals operational strategy ESG ESG Goals KPIs QIC’s ESG QIC Framework Business Es
Slide 11: Overview – Commitment to ESG Integration
OVERVIEW – COMMITMENT TO ESG INTEGRATION QIC’s Board of Directors agreed to commit the Company to support Qatar’s endeavor to reduce the country’s greenhouse gas emissions by 25 percent by 2030. Under the leadership of Group CEO, Salem Al Mannai, QIC has developed an Environmental, Social and Govern
Slide 12: Table of Content
TABLE OF CONTENT Overview Financial Information Business Information Appendix
Slide 13: Financial Information - Performance
FINANCIAL INFORMATION - PERFORMANCE Net earned premium* in QAR million Total Equity in QAR million Total Assets in QAR million 9,967 8,918 7,969 7,879 10,990 11,215 10,216 8,938 42,741 43,691 39,415 38,155 2019 2020 2021 2022 2019 2020 2021 2022 2019 2020 2021 2022 Gross written Premium – Lines of B
Slide 14: Financial Information - Key Ratios
FINANCIAL INFORMATION - KEY RATIOS Assets Ratios Key Performance Metrics (%)* 120.0% % 2022 2021 2020 2019 5.5 100.0% 6.2 5.3 24.7 5.9 18.4 80.0% 28.9 24.3 Invested Assets to Total Assets 53 51 51 52 60.0% Invested Assets to Net 82.0 117 140 137 133 40.0% 81.2 Technical Reserves 68.3 67.6 20.0% Cash
Slide 15: Financial Information - Strong Investment Portfolio
FINANCIAL INFORMATION - STRONG INVESTMENT PORTFOLIO Invested Assets vs investment and other income* in QAR million Investment portfolio composition QIC GROUP 21,570 20,553 19,355 3% 3% 2% 4% 17,243 8% 6% 9% 7% 6% 8% 8% 11% 1,083 18% 860 748 834 20% 24% 20% 2019 2020 2021 2022 Invested Assets Investm
Slide 16: Financial Information - Sector Balance and Security of Investments
FINANCIAL INFORMATION - SECTOR BALANCE AND SECURITY OF INVESTMENTS Fixed income: Rating Fixed income: Geographic mix Fixed income: Mix by sector 2% 4% 3% 1% 3% 5% 28% 6% 15% 7% 46% 41% 13% 55% 20% 32% 19% A- & Above BBB- to BBB+ MENA America (exc. LATAM) Financial Government Below BBB- Not Rated Exp
Slide 17: Table of Content
TABLE OF CONTENT Overview Financial Information Business Information Appendix
Slide 18: Business Information - Balance Sheet Strength Underpinned by Strong Access to Capital
BUSINESS INFORMATION - BALANCE SHEET STRENGTH UNDERPINNED BY STRONG ACCESS TO CAPITAL Balance Sheet Strength Equity and Debt Capital Market Track Record ❖ QIC’s balance sheet strength is supported by Refinanced 2017 Tier-2 issue with risk-adjusted capitalisation at the strongest 2022 Tier-2 Issue US
Slide 19: Business Information - Broad Spectrum of Capabilities
BUSINESS INFORMATION - 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 Reinsurance Asset Technologies Insurance Insurance Management Personal lines ❖ Aviation ❖ Group Life ❖ Agricult
Slide 20: Business Information - Dominant Position in the MENA Region
BUSINESS INFORMATION - 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 1,406 832 776 610 361 301 273 3,464 Gross premium 2,799 3,118 1,169 969 756 205 612 398 Market leading
Slide 21: Business Information - Significant Potential for Global and Regional Growth
BUSINESS INFORMATION - 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 QIC GROUP and ahead of its peers in MENA o Significant growth potential in rapidly growing MENA insurance markets USD
Slide 22: Business Information - Stable and Resilient Credit Rating Strength
BUSINESS INFORMATION - STABLE AND RESILIENT CREDIT RATING STRENGTH Rating: ‘A -’ Outlook – Stable “QIC benefits from a diverse competitive position supported by its leading domestic standing, regional Gulf Cooperation Council (GCC) operations, and a substantial (re)insurance income stream S&P from t
Slide 23: Appendix
APPENDIX
Slide 24: Income Statement, 2019 – 2022
INCOME STATEMENT, 2019 – 2022 Particulars ( all figures in QAR ‘000) 2019 2020 2021 2022 Gross written premium 12,059,943 12,201,733 9,921,540 9,848,227 Net earned premium 9,966,575 8,918,305 7,968,535 7,878,739 Net claims incurred (6,807,003) (7,312,649) (5,389,647) (6,394,104) Net commission (2,87
Slide 25: Balance Sheet, 2019 – 2022
BALANCE SHEET, 2019 – 2022 Balance Sheet (QAR ‘000) 2019 2020 2021 2022 ASSETS Cash and cash equivalents 8,544,700 8,212,111 9,598,999 6,472,955 Insurance and other receivables 8,452,858 9,004,400 8,516,579 6,865,683 Reinsurance contract assets 5,099,804 7,302,864 7,909,619 4,414,113 Investments 15,
Slide 26: Epicure Investment Management
EPICURE INVESTMENT MANAGEMENT EPICURE INVESTMENT MANAGEMENT Assets Under 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. Fixed Cash and Alternatives Equities Income Deposits USD 34
Slide 27: Anoud Technologies
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 company to be established in Qatar 1 Established in the QFC in April 2020 to support Qatar National Vision 2030. The Ano
Slide 28: Thank You
THANK YOU
Qatar Insurance Company — Debt Investor Presentation (2022) on 6ix