98. Qatar Insurance Company (QIC Group)

Country: Qatar
Sector: Insurance
Group CEO: Salem Al Mannai
Market Value: $2 billion
Sales: $2 billion
Profits: $169 million
Assets: $7.9 billion

Founded in 1964, the QIC Group was the first domestic insurance company in Qatar. Today, it operates in 11 countries. The group reported a net profit of $169 million in 2023, after recording a net loss of $325 million in 2022. It owns many subsidiaries, including Antares (Lloyd’s of London) and the Oman Qatar Insurance Company (OQIC). General Retirement and Social Insurance Authority is the major shareholder, with a 10.71% stake as of May 2024.