Everything has a cost!
QIC’s released figures show a rise of 19.85% in its net written premiums to reach QAR8.578bn by the end of 2016 while maintaining its retention rate practically unchanged at 86%. On the other hand, the net claims jumped substantially from QAR226.53m in 2015 to QAR400.42m in 2016: the net underlying result was, therefore, pulled down by 8.8% to QAR843.68m compared to last year’s figures. Unfortunately, investments and other sources of income of QAR906.58m (including 89% from investment activity) did not allow QIC to achieve a positive growth rate in its bottom line which stood at QAR103.4m (-1.17% yoy) in 2016.
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