Oman Qatar Insurance Company SAOG — Cyborg Score 6/10
Solid
Insurance - Life, General & Medical
Strategic Profile
As a subsidiary of Qatar Insurance Group, OQIC acts as a link to provide services across GCC countries and global networks. Qatar Insurance is the largest insurance company in the MENA region and number one in terms of profitability and market capitalization.
Cyborg Score Rationale
OQIC benefits from strong parent company backing with excellent credit ratings, stable Omani market presence for 20+ years, and diversified insurance portfolio. However, as a smaller subsidiary, the company faces limited scale with modest market cap of $82.2M and flat profitability metrics.
Top Insights
OQIC celebrated its 20th anniversary in February 2024, marking two decades of growth, innovation, and excellence in the Sultanate of Oman.
A.M. Best Europe assigned financial strength rating of A- (Excellent) and issuer credit rating of "a-" (Excellent) to QIC and its subsidiary Anteres-Re.
The company operates across marine and aviation insurance, property & casualty, and medical and life segments, with property and casualty deriving maximum revenue.
OQIC has enhanced its online retail platform and offers insurance solutions through its online portal oqic-insured.com for personal insurance needs.
Named Competitors
Qatar Insurance Group — MENA's largest insurer by profitability and market cap, parent company
Vision Insurance Company — Oman-based competitor announced merger discussions with OQIC
Recent Developments
(Feb 2024) OQIC celebrated 20 years of operations and strong market presence in Oman
(Aug 2025) QIC's subsidiary opens new corporate office in Muscat
(Mar 2025) Oman's insurance industry poised for steady growth and transformation
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