Business insurance · Qatar · Head-to-head
Qatar Insurance Company (QIC) vs Qatar General Insurance & Reinsurance (QGIRCO)
Two Qatar business insurance options, compared side by side for Qatar trades.
Which should you choose?
Qatar Insurance Company (QIC) and Qatar General Insurance & Reinsurance (QGIRCO) are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and Qatar-specific notes below against your trade and region.
Qatar Insurance Company (QIC)
Tier A · ListedQatar-based insurer writing Contractors/Erection All Risk and Plant & Equipment cover
Qatar Insurance Company (QIC), listed on the Qatar Stock Exchange, says it was set up in 1964 as the first domestic insurer in Qatar, and it now operates in several GCC markets and Europe. Its commercial page lists Contractors/Erection All Risk and Plant & Equipment insurance alongside liability, professional indemnity and workmen's compensation, and says engineering insurance specialists review project proposals.
Pros
- + Contractors/Erection All Risk and Plant & Equipment cover on its commercial page
- + Workmen's compensation, third-party liability and professional indemnity from the same insurer
- + Engineering insurance specialists review project proposals (QIC's statement)
Cons
- − No public premiums; quote only
- − Commercial range is aimed at company and project accounts
- − No takaful (Sharia-compliant) option found on its site
Qatar note
Contractors in Qatar can place Contractors/Erection All Risk, plant, liability and workmen's compensation cover with QIC under one Qatar Central Bank licensed insurer. If a contract names a minimum insurer rating, ask QIC for its current rating letter.
Qatar General Insurance & Reinsurance (QGIRCO)
Tier A · ListedQatari insurer, listed since 1997, with a full engineering insurance line
Qatar General Insurance & Reinsurance Company (QGIRCO), established in 1979 and listed since 1997, is regulated by the Qatar Central Bank. Its engineering page lists Contractors All Risks, Erection All-Risks, Contractors Plant and Machinery, Machinery Breakdown, Deterioration of Stock and Electronic Equipment cover. QGIRCO reported a loss of nearly QR 1.6 billion for 2023 and returned to a QR123.6 million net profit in 2025, according to Gulf Times.
Pros
- + Contractors All Risks with debris removal and third-party liability
- + Contractors Plant and Machinery cover for cranes, excavators and other site equipment
- + Erection All-Risks, Machinery Breakdown and Electronic Equipment cover
Cons
- − No public premiums; quote only
- − Large loss in 2023 before its return to profit
- − Vendor URL on file no longer resolves; the site moved to qgirco.com.qa
Qatar note
QGIRCO offers the main construction covers (CAR, EAR, contractors plant and machinery) from Doha. If a contract or lender sets a minimum insurer rating, ask QGIRCO for its current rating letter before placing cover.
More Qatar options
See all Qatar business insurance vendors and the rest of the Qatar directory.