Qatar Islamic Insurance Group
Islamic insurance is founded on the cooperative principle. Policyholders premiums, which are considered to be donations, form the general fund from which any claims are met. different from the conventional form in which the shareholders, rather than the policyholders, benefit from the profits generated by the sale of insurance products and services and by insurance investment assets.
The Qatar Islamic Insurance Company was established in 1995 to become one of the oldest Takaful insurance companies in the region. By adopting the principles of Islamic Sharia and benefiting from the accumulated experiences, the Qatar Islamic Insurance Company was able to develop all its insurance sectors and provide innovative and comprehensive services and products to its customers. The company has achieved many achievements over the past years, and net profits amounted to 2.5 million Qatari riyals in 1998, compared to 60.5 million Qatari riyals in 2007.In fact, the Islamic Insurance was able to achieve great achievements at all levels of its services in 2007, despite the severe damage suffered by the insurance sector globally and regionally. This success achieved by the company reflects the stable financial position of the company and its ability to manage and develop the business in accordance with the surrounding economic conditions and their changes.