Qatar Insurance Co. · QSE:QATI
Qatar Insurance — Q1 2024 Earnings Presentation
24 slides from Qatar Insurance's earnings presentation, March 2024
Slide 1: Qatar Insurance Company Investor Presentation
Qatar Insurance Company Investor Presentation March 2024
Slide 2: Content: Overview
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 14.72% • Composite insurer with a global underwriting footprint and a home Qatari Royal Family base in the GCC 9.45% • 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 1.6 billion • Total Equity: QAR 8.6 billion Strong Financials • Total Assets: QAR 28.2 billion • Market Capitalization: QAR 7.3 billion • Direct insuran
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: Content: Financial Information
CONTENT Overview Financial Information Investments Business Information
Slide 10: Performance
PERFORMANCE Gross written Premium – Lines of Business split (%) Q1 2024 27 26 9 16 10 9 2 1 2023 32 14 8 14 13 11 6 2 2022 45 5 8 10 16 10 4 2 2021 44 4 6 9 22 11 3 1 Motor Health & Life Energy Marine & Aviation Property Liability Agriculture Credit & Surety Gross written Premium – Geographical spli
Slide 11: Performance
PERFORMANCE Insurance Revenue in QAR Millions Insurance Service Result in QAR Millions 6,889 6,309 747 201 1,634 2022 2023 Q1 2024 2022 2023 Q1 2024 (465) Net Insurance Financial Result in QAR Millions Investment Income (in QAR Millions) and Yield (in %) 1,200 4.8% 5.2% 5.2% 15.0% 14.0% 13.0% 12.0%
Slide 12: Performance
PERFORMANCE Total Equity in QAR Millions Total Assets in QAR Millions 29,827 28,682 28,211 8,114 8,768 8,640 2022 2023 Q1 2024 2022 2023 Q1 2024 Assets Ratios Key asset ratios Q1 2024 2023 2022 Invested Assets to Total Assets 63% 62% 58% Invested Assets to Net Technical Reserves 199% 198% 181% Cash
Slide 13: Key Ratios
KEY RATIOS Solvency Ratio - QCB Solvency Ratio – S&P As per QCB 2020 2021 2022 2023 As per S&P 2020 2021 2022 Eligible Capital 9,806 10,083 7,602 7,449 Solvency Ratio 122% 124% 121% Solvency Ratio 188% 193% 171% 188% 193% 188% 122% 124% 188% 121% 171% 2020 2021 2022 2023 2020 2021 2022 QCB Solvency
Slide 14: Income Statement Q1 2024
INCOME STATEMENT Q1 2024 Particulars ( all figures in QAR ‘000) Q1 2024 Q1 2023 Insurance Revenue 1,634,017 1,345,548 Insurance Service Results 200,901 276,116 Net Insurance Financial Results (52,501) (112,366) Investment and Other Income 227,355 223,116 G&A Expenses (120,552) (81,903) Profit after
Slide 15: Balance Sheet Dec 2022 – Mar 2024
BALANCE SHEET Dec 2022 – Mar 2024 Balance Sheet (QAR ‘000) Dec 2022 Dec 2023 Mar 2024 ASSETS Cash and cash equivalents 6,473,253 5,487,061 5,044,778 Reinsurance contract assets 2,608,456 1,874,828 1,932,861 Insurance contract assets 417,546 173,460 174,733 Other receivables 524,858 225,770 270,891 I
Slide 16: Content: Investments
CONTENT Overview Financial Information Investments Business Information
Slide 17: Investment Portfolio & Investment Income
INVESTMENT PORTFOLIO & INVESTMENT INCOME Invested Assets vs investment and other income* in QAR million Investment portfolio composition QIC GROUP 19,355 17,730 17,650 17,249 4% 4% 5% 7% 8% 9% 11% 9% 8% 1,083 828 922 227 2021 2022 2023 Q1 2024 20% 16% 20% Invested Assets Investment and other income
Slide 18: Investment Portfolio Details
INVESTMENT PORTFOLIO DETAILS Fixed income - Rating Fixed income - Geographic mix Fixed income - Mix by sector 4% 2% 2% 1% 13% 6% 22% 5% 4% 7% 42% 49% 55% 24% 13% 35% MENA America (exc. LATAM) 16% A- & Above BBB- to BBB+ Europe Asia incl. Australia Financial Government Below BBB- Not Rated Exploratio
Slide 19: Content: Business Information
CONTENT Overview Financial Information Investments Business Information
Slide 20: 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 21: 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 22: 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 23: 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 24: Thank You
THANK YOU
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