Get to Know Qatar General Insurance and Reinsurance

Qatar General Insurance and Reinsurance are one of the insurance and reinsurance companies in the region. This company has many offerings for protection in many industries. But, is this company only about insurance? Read our article for more complex insights about QGIRC!

What are Qatar General Insurance and Reinsurance?

Qatar General Insurance and Reinsurance Co. QPSC (QGIRC) is one of the leading insurance providers in the region. This company offers individuals, families, and businesses that are tailored based on your needs. Furthermore, it has superior and innovative insurance solutions through its expertise in insurance services and products.

This company is focused on general insurance and reinsurance, encompassing Islamic Takaful insurance, investment, real estate, trading, manufacturing, and contracting. Moreover, this insurance company operates using the Insurance and Investments segments.

In addition, Ghazi Kamel Abdul Rahman Abu Nahl founded this company on March 5, 1979. Then, this company was listed on the Qatar stock exchange in 1997 with the capital base regulated under the Qatar financial markets authority and Qatar Central Bank. Also, it currently is headquartered at St Doha, 4500 Qatar.

Since its establishment, this brand has been driven to keep developing its reach by collaborating with local and international business communities to help their needs. Besides, it also aims to offer the best-customized products and guidance on recovery and loss prevention. Thus, the company will keep striving with steady dedication.

What are Qatar General Insurance and Reinsurance Offerings?

QGIRC has two main offerings that are dedicated to individuals and commercials. Each offering consists of various products that are tailored based on your needs. So you need to compare carefully to save yourself and your beloved ones by choosing the exact insurance plans. So, let’s get to know all of its offerings!

1. Individual Insurance Products

This insurance is designed for individuals to secure their child’s future and protects property. It has various personal products insurance from the motor to medical insurance. Below are details of its offers:

a. Motor Insurance

Personal motor insurance provides quality comprehensive and third-party coverage for vehicles at competitive prices. This insurance covers the agency repair of a new vehicle. In addition, it has free personal accident advantages for passengers and drivers. This insurance also covers locksmith covers, battery charges, etc.

b. Home Insurance

Qatar General Insurance and Reinsurance’s home insurance policies are insurance that suits your needs and budget. It’ll protect your residence and contents from any physical damage or loss. Furthermore, household insurance includes home appliances, content, and personal effects.

c. Accident Insurance

Personal accident insurance can assist when you are facing accidents and financial strain. It has complete financial protection against any accidental loss of life. Not only that, it also has financial benefits for accidental bodily injury.

d. Medical Insurance

The medical insurance program is designed to give coverage inside Qatar. Therefore, you and your family can maintain your health. It also provides medical coverage locally via large providers’ networks and reimbursements. So it can cover when the providers are outside its network.

e. Travel Insurance

Whether traveling for pleasure or business, this travel insurance plan provides you the cover options for overseas emergency medical costs, cancellations, and many more. It also offers a range of plans to be customized based on your travel needs.

f. Marine Hull Insurance

This company also offers marine hull insurance for enthusiastic local seafarers. This insurance also includes Hull and machinery insurance and Third-party liability insurance.

g. House Maid Insurance

If you have a housemaid, then you should protect them. This housemaid insurance offers 24/7 coverage for 2 years. This coverage includes death due to an accident to critical illness.

2. Corporate Insurance Products

Aside from personal insurance, Qatar General Insurance and Reinsurance also offer corporate insurance products. It can safeguard private businesses to public organizations in multiple fields. Its insurance will assist you with its expertise in mitigating, preventing, and decreasing risks. Here is further information:

a. Property Insurance

Property insurance provides the right and appropriate commercial property insurance depending on the business needs. The goal of this insurance is to avoid a great setback in the years ahead.

b. Marine and Aviation Insurance

This QGIRC insurance covers every phase in the distribution chain, encompassing goods in storage, transit, and project cargo for specialist logistics. The marine underwriting department works strictly to deliver covers under hull and cargo.

c. Engineering Insurance

This Qatar General Insurance and Reinsurance offers a range of insurance covers for navigating risks that could arise with construction and erection. Furthermore, this insurance also covers Contractors All Risks Insurance (CAR) and Erection All Risks Insurance (EAR).

d. Energy Insurance

Energy insurance encompasses the respective industry’s onshore and offshore activities that are divided into upstream, midstream, and downstream. What’s more, this company has strong relationships with businesses in the energy sector such as fertilizer, petrochemical, oil, and gas companies.

e. Corporate Motor Insurance

Motor insurance for corporate organizations offers tailored premiums for vehicles, such as buses, cars, and heavy vehicles. In addition, this also includes the cover of a range of optional benefits.

f. Liability and Miscellaneous Insurance

This insurance is a broad category of insurance coverage including individuals, employers, and businesses. It can help against loss of property, harm, or other legal liabilities. 

g. Group Medical Insurance

Qatar General Insurance and Reinsurance also offer medical insurance for corporations. It has a wide range of medical insurance services and benefits that covers patient medical and surgical services, dental treatments, optical benefits, etc.

h. Specialty Lines

The last is specialty insurance plans that have a myriad of unique insurance products than normal insurance. For instance, Directors’ and Officers’ Liability, Banker’s Blanket Bond, Cyber Liability, Trade Credit, and other insurances.

What is the Qatar General Insurance and Reinsurance Rating?

In the latest update in May 2023, AM Best reaffirmed the Financial Strength Rating of  B++ which is Good. Meanwhile, the Long-Term Issuer Credit Rating is “BBB”. It states that the company’s strength is its extremely robust consolidated balance sheet.

In addition, AM Best also reports that it has outstanding appropriate enterprise risk management and adequate operating performance. In 2020, this company obtained a Financial Strength Rating and a Long-Term Issuer Credit Rating of A- (Excellent).

Have You Understood What QGIRC is?

Qatar General Insurance and Reinsurance Co. are one of reliable companies that offer great tailored offerings for individuals and corporations. It will be great to find one insurance that fits your needs. So that’s all the current information that we get from this company, we hope it can help!