Domestic dominance Regional leadership Global ambitions December 2017
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix Founded in 1964, Qatar Insurance Company (QIC) is the largest insurance powerhouse in the MENA region 2
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix QIC - KEY FACTS AND FIGURES – December 2017 QIC steadily evolved from a domestic player to a regional leader on to global Solid foundation ambitions over 50 years Normalised ROE: 11% - 12% GWP: QAR 11.7 billion Strong financials Market Capitalization: QAR 14.8 billion Net profit: QAR 418 million Reinsurance Direct insurance Life and Medical Five pillar strategy Specialty insurance Asset Management Stable sources of Consistent underwriting performance over 50 years Outstanding investment contribution income Strong financial ‘A’ (Excellent) AM Best financial strength rating strength ‘A’ / Stable outlook, Standard & Poor’s financial strength rating High risk maturity Best in class Enterprise Risk Management practices 3
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix 53 YEARS OF OPERATIONAL EXCELLENCE En route to establishing a global footprint based on domestic dominance and regional leadership Source: S&P CAPITAL IQ MENA: QIC No 1 of 116 companies Asia Pacific: QIC No 10 of 264 – excl. L&H World: QIC No 109 of 375 companies Qatar Re re- 50 th Anniversary Q-Life & Current Senior KQIC (Kuwait) Qatar Re placed USD 450mn QIC domiciled to Medical and acquisition of Management and OQIC (Oman) perpetual non-call 5.5 established Bermuda and opened established Antares appointed established subordinated 2 Tier notes a branch in Dubai 1964 1968 1986 2002 2004 2009 2011 2014 2015 2016 2017 OQIC IPO Abu Dhabi Qatar Re ranked QIC Europe Ltd Antares established Dubai branch Qatar Re 35 th amongst top 50 oversubscribed branch established in Antares Asia in established established 1.4 times established global reinsurers Malta Singapore 4
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix SUSTAINED GROWTH FROM DIVERSIFIED SOURCES Return on Equity (Normalised) Earnings per share Market Capitalization Net profit (attributable to parent) in QAR million in QAR million in % (restated) in QAR 2017 418 12.0 1.28 14,836 2016 1,034 14.7 3.73 20,449 2015 1,044 18.1 3.76 15,139 2014 1,001 18.4 3.61 14,545 2013 753 17.1 2.72 8,541 QIC Group: Well diversified multi-pillar business set-up Specialty Direct Life & Asset Reinsurance Real Estate Insurance Insurance Medical Management QIC Real Qatar Life & QIC Asset QIC Qatar Re Antares Estate Medical Management Financial strength rating ‘A’ (strong), Financial strength rating of ‘A’ (excellent) outlook stable www.ambest.com www.standardandpoors.com 5
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix ROBUST FINANCIAL PERFORMANCE Gross written premiums Underwriting results in QAR million in QAR million 926 11,659 844 9,901 664 8,347 485 5,614 3,532 115 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Investment and other income Net profit – Attributable to parent in QAR million in QAR million 83 181 1,044 1,034 1,001 114 187 753 135 903 846 418 811 712 582 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 6 Investment income Other income
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix Strategy 7
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix EXPANDING GLOBALLY AND CONSOLIDATING REGIONAL LEADERSHIP Singapore Bermuda London Zurich Malta • Qatar Re US & • Antares Group • Qatar Re • QIC Europe Ltd • Qatar Re Asia NatCat Holdings Continental Branch • Qatar Re HQ • Antares Lloyds • Antares Asia Europe and global 1274 Syndicate operations • Qatar Re Rep. Office Kuwait UAE Muscat Shanghai Doha • QIC Group’s HQ • QIC direct insurance • Oman Qatar • Kuwait Qatar • Antares Lloyds and domestic operations (UAE) Insurance Insurance China 1274 • Qatar Re DIFC operations Company Company Syndicate • QIC Capital Branch 8
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix BROAD SPECTRUM OF CAPABILITIES QIC Domestic Reinsurance Specialty Life & Medical Asset Management • Personal lines • Agriculture • Aviation • Group Life • Proprietary asset • Credit & Surety • Financial • Credit Life o Motor management Institutions • Energy • Mortgage o Home • Third party • Marine Life • Engineering o Travel asset • Political and • Group • Facultative o PAB management Financial Risk Medical • Commercial lines • Marine & • Professional Aviation o Energy indemnity • Motor o Marine & • Property Excess • Property Aviation of Loss • Structured o Medical • Terrorism Finance o Motor o Property & Commercial 9
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix Competitive Position 10
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix DOMINANT POSITION IN THE MENA REGION Regional comparison (FY 2016) in QAR million 35,000 28,715 30,000 25,000 20,000 13,079 15,000 9,901 7,818 7,705 7,190 6,945 6,565 6,430 10,000 4,458 4,886 3,523 3,360 3,100 2,772 2,558 2,354 1,034 5,000 777 771 612 300 203 156 80 48 0 -197 -5,000 QIC Tawuniya Orient Oman Ins. Co ADNIC Bupa Arabia Gulf Ins. Co Salama Med Gulf Total Assets Gross premium Net profit attributable to parent QIC consistently outperforms major regional insurance and reinsurance groups due to its focus on Technical excellence in underwriting and asset management Diversified growth across business segments and geographies 11
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix 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 in MENA o Significant growth potential in rapidly growing MENA insurance markets USD 800 million USD 50 billion Qatar Re GWP GWP Top 10 reinsurer Qatar Re Ranked 35 th amongst top 50 global reinsurers o o Aspires to become a Top 10 reinsurer by 2025 o Continues to expand geographically and by line of business USD 1.62 billion USD 6 billion Antares GWP GWP Lloyd’s Antares o Established as independent Managing Agent at Lloyd’s, the world’s global insurance and reinsurance market of choice o Ranks no. 28 within Lloyd’s by GWP o Synergies with QIC have potential to enhance growth USD 40 billion USD 539 million QIC Group GWP Global Non-Life GWP QIC Group o Aspires to become a Top 50 international composite insurance group o Well diversified by geography, lines of business and sectors o Ranked 109 worldwide by market cap USD 3.2 billion USD 1.4 trillion 12
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix Performance 13
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix STRONG TRACK RECORD OF TOP AND BOTTOM-LINE GROWTH.. Key Highlights (QAR million) 2013 2014 2015 2016 2017 Gross premium 3,532 5,614 8,347 9,901 11,659 Underwriting results 485 664 926 844 115 Net profit (attributable to parent) 753 1,001 1,044 1,034 418 Investment and other income 717 1,027 899 925 986 Earnings per share (restated) 2.72 3.61 3.76 3.73 1.28 Cash dividend per share 2.5 2.5 2.5 1.5 1.5 Bonus share 25% 15% 10% 15% 15% Share price 66.5 90.6 82 85 53.5 Operating Cash Flow growth Total Assets in QAR million in QAR million CAGR 32% CAGR 48% 34,734 1,966 28,715 23,673 1,471 1,341 16,332 755 11,633 442 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 14
At a Glance Strategy Competitive Position Performance Organisation Risk Management Outlook Appendix …AND SHAREHOLDER VALUE CREATION Dividends Return on Equity (Normalised) in QAR % Pay-out ratio 85% 64% 62% 70% 234% 2.50 1.50 1.00 18.4 18.1 17.1 1.50 1.50 14.7 12.0 2.50 2.50 2.50 1.50 1.50 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Dividend per share Bonus per share QIC shares with QE Index and QE Insurance index Market Value in QAR million 12.0 20,449 15,139 8.0 14,836 14,545 8,541 4.0 8,017 8,236 5,812 5,187 - 5,705 2013 2014 2015 2016 2017 Market Cap Book Value QATI QD Equity DSM Index QINS Index 15
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