Qatar Insurance Group earns MSCI's highest ESG rating
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.
Effective as of May 22, 2025, the rating highlights QIC's outstanding performance across key ESG pillars: The company ensures robust privacy and data security through advanced cybersecurity infrastructure, strong data protection measures, and strict regulatory compliance. It prioritises human capital development with inclusive talent strategies, high employee engagement, and effective feedback mechanisms. Additionally, it upholds strong corporate behavior with a culture rooted in ethical integrity, solid anti-corruption frameworks, and a clean governance record.
Salem Al Mannai, CEO of QIC Group, emphasised the company's alignment with the Paris Agreement, the United Nations Sustainable Development Goals, the Qatar Stock Exchange's ESG reporting guidelines, and Qatar Central Bank's directives to advance sustainable finance. He highlighted QIC's role as a regional model for sustainability and governance, crediting Qatar's progressive investment climate and the pivotal role of the Qatar Central Bank in enabling regulatory excellence. 'Al Mannai underscored that ESG at QIC is not just a responsibility but a strategic opportunity to lead with purpose, build trust, and drive sustainable transformation in the financial sector. He added that MSCI's recognition reinforces QIC's commitment to setting new benchmarks and championing sustainable finance across MENA,' he added.
Qatar Insurance Group (QIC) has outperformed both regional and global industry peers with an industry-adjusted ESG score of 9.7, earning a prestigious 'AAA' rating. MSCI ESG Research recognized QIC for its rigorous data privacy protocols aligned with global standards, robust corporate governance led by an independent board, and transparent ESG policies covering its entire investment portfolio. QIC's ethical framework includes strong anti-bribery, anti-money laundering, and whistleblower protections, reinforcing its position as a regional ESG leader.
QIC's sustained ESG excellence is driven by integrated, long-term efforts across operations. The Group maintains an 80 per cent employee engagement score, over 90% retention, and a diverse workforce from 67 nationalities, supported by comprehensive benefits and strong career development.
As a responsible investment pioneer, QIC was the first MENA insurer to disclose ESG risks across its full portfolio and now holds ESG scores nearly double the global industry average. It also led regional efforts in cybersecurity by voluntarily aligning with GDPR standards. In sustainable insurance, QIC was the first in MENA to sign the UNEP FI Principles for Sustainable Insurance, embedding ESG into underwriting and risk strategies.
Additionally, it launched a large-scale reforestation initiative to plant one million trees and partnered with the Ministry of Environment and Climate Change to support biodiversity and climate resilience under Qatar's Third National Development Strategy (2024–2030).
Qatar Insurance Group (QIC) is the first Middle Eastern insurer to sign the UN's Principles for Sustainable Insurance under UNEP-FI. It supports Qatar's goal to cut greenhouse gas emissions by 25 per cent by 2030. QIC has a strong ESG framework and long-term sustainability strategy across underwriting and asset management.
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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