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Qatar Tribune
4 days ago
- Business
- Qatar Tribune
QIC Group net profit rises 6% to QR383 million in H1
Tribune News Network Doha Qatar Insurance Group (QIC), the largest insurer in Qatar and one of the leading players in the MENA region, has reported a net profit of QR383 million for the first half (H1) of 2025, up 6 percent from QR360 million recorded in the same period of 2024. The results were approved at a meeting of the board of directors chaired by QIC Chairman Sheikh Hamad bin Faisal bin Thani Jasim Al Thani on Tuesday. Gross written premiums (GWPs) rose 17 percent year-on-year to QR5.7 billion, with 60 percent generated from domestic and MENA markets and the remainder from international operations. The group posted an insurance service result of QR221 million, reflecting the success of its ongoing strategy to focus on profitable core markets while exiting low-margin business. Investment and other income reached QR496 million, an increase of 7 percent year-on-year, delivering a return on investment of 5.2 percent compared to 4.7 percent in H1 2024. Earnings per share rose to QR0.089 from QR0.084 in the prior-year period. Assets under management remained stable at QR18.4 billion. Commenting on the first half results, Sheikh Hamad said the strong H1 results reflected 'continued and consistent success' across all operations despite a challenging global backdrop of economic uncertainty and high insured catastrophe losses. 'QIC's underwriting portfolio continues to benefit from long-term strategic rebalancing in favour of profitable business from our core markets in Qatar and the MENA region,' he added, noting that international operations and high-quality investments also remain key earnings contributors. In H1 2025, QIC launched Qatar's first-ever personal lines cyber insurance product, expanded its award-winning motor insurance offerings, and invested in Insurtech startups to reach new customer segments. It also submitted a proposal to establish a branch in Saudi Arabia, where the insurance market is forecast to grow strongly under Vision 2030. QIC maintained its commitment to Environmental, Social, and Governance (ESG) principles, becoming the first company in Qatar — and the only insurer in MENA — to receive a provisional 'AAA' ESG rating from MSCI ESG Research. The group continued sponsorship of major national events, including the Katara International Arabian Horse Festival, the Build Your House Exhibition, and the Commercial Bank Qatar Masters. During the first half, QIC was named Insurer of the Year in Qatar for the fourth consecutive year at the MENA Insurance Awards, ranked among Qatar's 10 Most Valuable and 10 Strongest Brands by Brand Finance, and received recognition for innovation at the Google Cloud Summit Doha 2025. The QIC App was also ranked among the top financial innovations in the Middle East by Global Financemagazine. QIC CEO Salem Al Mannai said the company remains focused on profitable growth both regionally and internationally, while enhancing operational efficiency through digital transformation. 'Our differentiators — service excellence, ESG leadership, and advanced digital capabilities — allow us to grow selectively and resiliently in a volatile world,' he said. Founded in 1964 as Qatar's first domestic insurance company, QIC today is the market leader in the GCC and MENA region, listed on the Qatar Stock Exchange with a market capitalisation exceedingQR7 Written Premiums (GWP) totalled QR5.7 billion, a 17% year-on-year increaseThe Group has posted insurance service results of QAR 221 million in H1 2025Investment and other income amounted to QAR 496 mn, a 7% year-on-year per share increased to QR0.089 per share from QR0.084 per share. Despite global shocks and persistent uncertainty, QIC delivers strong financial results and builds resilience
Associated Press
14-04-2025
- Business
- Associated Press
Amcor receives 'AA' MSCI ESG rating, recognizing its commitment to sustainability
ZURICH, April 14, 2025 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, has been recognized with an 'AA' rating by MSCI ESG Research for its strong sustainability performance. This rating underscores Amcor's commitment to environmental, social and governance (ESG) leadership and highlights its progress in advancing more sustainable packaging solutions. Amcor's 'AA' rating highlights the company's ongoing efforts to reduce greenhouse gas emissions, increase clean energy procurement and expand the use of recycled content in its products. The company's focus on circular economy solutions is a key pillar of its sustainability strategy, driving innovation to reduce environmental impact and enhance recyclability at a global scale. David Clark, Chief Sustainability Officer at Amcor, said, 'We are proud that MSCI continues to recognize Amcor's commitment to responsible packaging, and we celebrate this achievement. This rating is a testament to our dedication to delivering superior packaging solutions that meet consumer expectations, customer needs and the highest standards of efficiency and safety. Amcor is focused on advancing our sustainability journey and collaborating with our value chain partners to help shape a society where responsible consumption and circularity are the norm.' MSCI ESG Research provides ratings on global public and select private companies, assessing their exposure to industry-specific ESG risks and ability to manage those risks relative to peers. Learn more about Amcor's sustainability initiatives at About Amcor About Amcor Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC I LinkedIn I YouTube View original content to download multimedia: SOURCE Amcor
