Heritage

The Company was founded on 21st July, 2004 and was granted a license by the Capital Market Authority (CMA) in Oman

Oman Qatar Insurance Company SAOC (OQIC) is a closely held joint stock company incorporated in the Sultanate of Oman and is engaged in the business of life and general insurance.

OQIC is a subsidiary of Qatar Insurance Company SAQ (QIC), a publicly listed composite insurer with a consistent performance history of 50 years and an underwriting footprint across the Middle East, Africa and Asia. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA regions. QIC is one of the highest rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A (Excellent) from A.M. Best. In terms of profitability and market capitalization, QIC is also the largest insurance company in the MENA region. It is listed on the Qatar Stock Exchange and has a market capitalization of more than USD 4 billion.

OQIC is supported by QIC Group’s treaty facilities with “A” rated reinsurers from international markets. At the same time, OQIC’s local shareholder, Al Hosn Investment SAOC, a leading business house in the Sultanate of Oman has rendered continuous support and guidance.
Besides a corporate office at Rex Road, Ruwi, Muscat, OQIC has four retail branches at Ruwi – CBD, Ghubra, Al Khoudh and Sohar.

QIC Milestones