Qatar Insurance Company, the leading insurance company in Qatar and the Middle East and North Africa region, has signed the “Sustainable Insurance Initiative” of the United Nations Environment Programme, thus becoming the first insurance company in the Middle East to sign the global agreement.
The Sustainable Insurance Initiative was launched at the 2012 United Nations Conference on Sustainable Development and serves as a global framework for insurance industries to adopt Environmental, Social and Governance (ESG) practices. This initiative is the largest cooperative agreement between the United Nations and the insurance industry.
By signing the agreement, QIC becomes part of a global network of insurance stakeholders committed to integrating three-way sustainability governance along their value chain. These principles provide criteria for evaluating the success of insurance and reinsurance companies beyond profitability and financial criteria, while strengthening their governance and business model.
Mr. Salem Al-Mannai, CEO of Qatar Insurance Group, said: “Qatar Insurance Company strives to create sustainable businesses while contributing to global economic resilience and is aware of its impact on climate, biodiversity, poverty eradication, education and ethical standards. Qatar Insurance Company intends to leave a positive footprint. Signing the “principle” "Sustainable Insurance" helps Qatar Insurance Company to integrate the three standards of sustainability governance throughout its value chain. Together with our stakeholders, we will work towards achieving a resilient, sustainable and inclusive society.
Qatar Insurance Company Q.S.P.C is a publicly listed insurance company with a proven performance history of more than 50 years and a global underwriting footprint. Qatar Insurance Company was established in 1964 as the first national insurance company in the State of Qatar, and today it has become a pioneer in the insurance sector in the Middle East and North Africa region. Qatar Insurance Company is also one of the largest insurance companies in the Middle East and North Africa region in terms of total written premiums and total assets. Qatar Insurance Company is listed on the Qatar Stock Exchange with a total market capitalization of more than 6.5 billion Qatari riyals. Qatar Insurance Company was crowned the best digital insurance company in the Middle East, as part of the “Global Banking and Finance Review” awards for the year 2022.