Qatar Insurance Group achieves highest possible rating from MSCI ESG Research
This exceptional milestone places QIC among the world's top-performing insurers for ESG excellence and governance resilience. It also solidifies QIC's position as the first company in Qatar and the only insurer in the MENA region to receive a provisional ESG 'AAA' rating from MSCI*, joining an elite group of property and casualty insurers worldwide to earn this distinction.
A Testament to ESG Leadership
Effective as of 22 May 2025, the rating highlights QIC's outstanding performance across key ESG pillars:
Privacy & Data Security: Robust data protection measures, world-class cybersecurity infrastructure, and regulatory compliance.
Human Capital Development: Strong employee engagement, inclusive talent strategies, and proactive feedback channels.
Corporate Behavior: A well-established culture of ethical integrity, anti-corruption frameworks, and a governance track record free of controversies.
Salem Al Mannai, QIC Group CEO, commented:
The State of Qatar is a proud signatory to the Paris Agreement, and at QIC Group, we have aligned our sustainability strategy with the United Nations Sustainable Development Goals, the Qatar Stock Exchange's ESG reporting guidelines, and the Qatar Central Bank's directives to strengthen sustainable practices in the financial sector.
We take great pride in being a model of excellence in sustainability and governance, both in Qatar and across the region. This national achievement is a testament to Qatar's advanced investment environment and a reflection of the professionalism and efficiency of the country's regulatory authorities—foremost among them the Qatar Central Bank, which has played a pivotal role in shaping the legislative and regulatory frameworks that empower institutions under its supervision to grow and thrive sustainably.
Achieving MSCI's 'AAA' rating reaffirms our unwavering commitment to sustainability and robust governance. This recognition is a direct result of our clear strategy, disciplined operations, and the tireless efforts of our people to deliver world-class performance across all aspects of our
business.
In today's environment—shaped by climate risk, rising societal expectations, and increased investor focus—ESG excellence is no longer optional. It is a strategic priority that defines long-term value, resilience, and reputation.
At QIC, we see ESG as more than a responsibility—it is an opportunity to lead with purpose, build trust, and contribute to the sustainable transformation of financial services in Qatar and across the region. MSCI's recognition further strengthens our resolve to set new benchmarks, continuously elevate our performance, and champion sustainable finance throughout MENA.
Outperforming Regional and Global Peers
With a weighted, industry-adjusted ESG score of 9.7, QIC significantly outperformed both regional and global industry averages, placing it among a select group of global peers that have achieved the 'AAA' rating.
MSCI ESG Research specifically commended QIC for:
Rigorous data privacy protocols aligned with global standards, complemented by regular security audits and employee training.
Leadership in responsible investment, with transparent ESG policies covering the entire investment portfolio.
A strong ethical framework, including anti-bribery, anti-money laundering, and whistleblower protections.
Robust governance, with a highly independent board and dedicated audit, nomination, and compensation committees.
Sustained Excellence Across ESG Priorities
QIC's ESG success is built on long-term, integrated efforts across all areas of its business:
Human Capital and Workplace Leadership
80% employee engagement score and a 90%+ retention rate.
A diverse workforce representing 67 nationalities across six continents.
Comprehensive benefits, regular performance reviews, and structured grievance mechanisms.
Investment in talent development platforms that foster career growth and leadership visibility.
Responsible Investment Pioneer
The first insurer in MENA to publicly measure and disclose ESG risks across its entire investment portfolio.
ESG investment scores nearly double the global industry average.
Proactive targets for ESG ratings and carbon intensity reduction across key holdings.
Data Protection and Cybersecurity Leadership
The first regional insurer to voluntarily align with the EU's General Data Protection Regulation (GDPR).
Advanced data classification, loss prevention technologies, and a proactive cybersecurity framework backed by regular internal and external audits.
Leading Sustainable Insurance Practices
The first insurer in MENA to sign the UNEP FI Principles for Sustainable Insurance (PSI), embedding sustainability into underwriting and risk management strategies.
Meaningful Community and Environmental Action
The first insurer in the region to launch a large-scale reforestation initiative, committing to plant one million trees across Qatar to support national climate goals and combat desertification.
Active partnership with Qatar's Ministry of Environment and Climate Change (MoECC) to support the Third National Development Strategy (2024–2030), focusing on biodiversity preservation, carbon sequestration, and climate resilience.
This forward-thinking project is expected to significantly enhance air quality, conserve water resources, protect local ecosystems, and contribute to Qatar's long-term environmental sustainability.
This milestone is the result of a long-standing journey of commitment and dedicated work towards achieving the highest standards of sustainability. Qatar Insurance Group was the first insurance company in the Middle East to sign the Principles for Sustainable Insurance (PSI) under the United Nations Environment Programme Finance Initiative (UNEP-FI) last year, underscoring its leadership and pioneering role in this field.
The Group remains firmly committed to supporting Qatar's national efforts to reduce greenhouse gas emissions by 25% by 2030, in line with the country's national strategy. QIC Group has also established a comprehensive ESG governance framework and developed a long-term strategy to embed
sustainability principles into both its underwriting philosophy and asset management practices.
To ensure these efforts are fully integrated across the Group, a dedicated Sustainability Committee has been established to lead this strategic direction and drive the achievement of its ambitious objectives.
About MSCI ESG Ratings: MSCI is one of the world's leading ESG Ratings agencies. Its ESG Ratings aim to measure a company's management of
financially relevant ESG risks and opportunities. The company uses a rules-based methodology to identify industry leaders and laggards according to their exposure to ESG risks and how well they manage those risks relative to peers. ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).
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