Business insurance · Qatar
Qatar General Insurance & Reinsurance (QGIRCO)
Qatari insurer, listed since 1997, with a full engineering insurance line
Market position
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.
Qatar-specific 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.
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
Typical Qatar pricing
Quote-based; no public prices on QGIRCO's engineering insurance page.
Why this matters for Qatar trades
The Ministry of Finance’s Monaqasat portal requires classification, with an audited balance sheet, before a company can take part in government tenders. The General Tax Authority administers income tax (10%), withholding tax and excise tax through its Dhareeba portal; Qatar has no VAT as of September 2026, and EY reports that the GTA will run e-invoicing under the draft law. Law No. 12 of 2024 requires employers to report vacancies and salaries to the Ministry of Labour and to fill designated jobs with Qatari nationals. The Ministry of Municipality issues building permits through an AI-based system launched in October 2025; QCS 2014 applies to all buildings under construction, according to The Peninsula, with Ashghal adding Interim Advice Notes on its own projects; and Kahramaa publishes lists of authorized electrical and water contractors and licenses solar PV contractors.
Qatar construction and trades software selection is shaped by Monaqasat classification for government tenders, the Qatar Construction Specifications (QCS 2014), Ashghal’s tendering and prequalification for public works, the Qatarization law (Law No. 12 of 2024), and the tax position: Qatar has not introduced VAT, and a draft e-invoicing law approved on 6 May 2026 had no official go-live date by 30 September 2026.
Frequently asked
Is Qatar General Insurance & Reinsurance (QGIRCO) a good fit for Qatar trades?
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. 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.
What does Qatar General Insurance & Reinsurance (QGIRCO) cost in Qatar?
Quote-based; no public prices on QGIRCO's engineering insurance page. Pricing and availability can change by region; confirm current Qatar pricing on the vendor's site before committing.