Source: Kuwait Times

JAKARTA – Qatar Insurance Group (QIC) has made history by becoming the first Qatari company and the sole MENA region insurer to secure MSCI’s coveted ‘AAA’ ESG rating. This achievement, effective from May 22, 2025, represents the pinnacle of environmental, social, and governance performance under MSCI’s internationally recognized assessment framework.

The landmark rating distinguishes QIC among an exclusive circle of global insurance leaders who have attained this exceptional standard. With an industry-adjusted ESG score of 9.7, the company has substantially exceeded both regional and international benchmarks in sustainable business practices.

Foundation of Excellence

QIC’s ESG leadership stems from comprehensive strategies across multiple dimensions of responsible business conduct. The company has demonstrated exceptional capabilities in data privacy and cybersecurity, establishing robust protection protocols that align with global standards while maintaining rigorous security auditing processes.

The organization’s commitment to human capital development has yielded remarkable results, with employee engagement reaching 80 percent and retention rates exceeding 90 percent. This success reflects QIC’s inclusive approach to talent management, encompassing a diverse workforce from 67 nations across six continents.

Corporate governance remains a cornerstone of QIC’s operations, featuring strong ethical frameworks that include comprehensive anti-corruption measures and whistleblower protections. The company’s governance structure emphasizes board independence and maintains dedicated committees for audit, nomination, and compensation oversight.

Pioneering Sustainable Investment

QIC has established itself as a trailblazer in responsible investment practices throughout the MENA region. The company became the first regional insurer to publicly measure and report ESG risks across its complete investment portfolio, achieving ESG investment scores that nearly double the global industry average.

This leadership extends to proactive target-setting for ESG ratings and carbon intensity reduction across key holdings, demonstrating QIC’s commitment to driving sustainable finance throughout the region.

Environmental Leadership and Community Impact

The company’s environmental initiatives showcase ambitious scope and measurable impact. QIC launched the region’s first large-scale reforestation program, committing to plant one million trees across Qatar to support national climate objectives and combat desertification.

Through strategic partnership with Qatar’s Ministry of Environment and Climate Change, QIC actively supports the Third National Development Strategy (2024-2030), focusing on biodiversity preservation, carbon sequestration, and climate resilience enhancement.

Regulatory Alignment and National Goals

QIC’s sustainability approach aligns closely with Qatar’s national commitments, including the Paris Agreement and the country’s goal to reduce greenhouse gas emissions by 25 percent by 2030. The company has integrated United Nations Sustainable Development Goals into its operational framework while adhering to Qatar Stock Exchange ESG reporting guidelines and Qatar Central Bank directives.

Strategic Framework for Sustainability

The organization has established a comprehensive ESG governance structure, including a dedicated Sustainability Committee responsible for strategic direction and objective achievement. This framework ensures sustainability principles are embedded throughout underwriting philosophy and asset management practices.

QIC’s recognition as the first MENA insurer to sign the UNEP FI Principles for Sustainable Insurance further underscores its pioneering role in sustainable insurance practices, incorporating environmental and social considerations into underwriting and risk management strategies.

Leadership Perspective

According to Salem Al-Mannai, QIC Group CEO, this achievement reflects Qatar’s advanced investment environment and the effectiveness of regulatory frameworks established by authorities including the Qatar Central Bank. The rating affirms QIC’s position that ESG excellence has evolved from optional practice to strategic necessity in today’s environment of climate risk and heightened investor expectations.

The company views this recognition as validation of its integrated approach to sustainability, governance, and long-term value creation, positioning QIC to continue setting new benchmarks for sustainable finance across the MENA region.

Original article:

kuwaittimes.com. (n.d.). Qatar Insurance Group earns MSCI’s highest ESG rating. Retrieved July 9, 2025, from https://kuwaittimes.com/article/30338/business/qatar-insurance-group-earns-mscis-highest-esg-rating/