You are here: HomeQatar 2018 › A Diversified Economy

Old School, New School

Feb 16, 2018
Credit : GMI Post

Widely known as an oil-rich state, Qatar has built a reputation over the years as a more diversified economy with a globalized outlook on development. Apart from the usual petrochemical players, the country boasts large local flagships as well as new contributors to its nation-building project.

Established in 1964, Qatar Insurance Company (QIC) is the largest insurance company in the MENA region by Gross Written Premium and market capitalization. Group President and CEO Khalifa Abdulla Turki Al-Subaey wants the company to become among the world’s top 50 insurance companies by 2030.

QIC Group President and CEO Khalifa Abdulla Turki Al-Subaey

“We are a Qatar-based composite insurer with an underwriting footprint across the Middle East and the rest of the world. The group is the leading insurance group in the region in terms of total assets, gross written premiums and net income,” said Al-Subaey.

With 73 percent of its gross written premium generated from outside of the Middle East, QIC’s strategy is underpinned by continued global expansion and diversification.

“QIC’s international business is a critical element of the group’s overall insurance and reinsurance operations. We have grown in recent years both organically and through acquisition, and we will continue to do so,” said Al-Subaey.

While QIC is primarily nonlife insurance and reinsurance group, the group is looking to expand into life and medical insurance and is open to partnerships with global players to gain access to new distribution platforms and geographic markets.

“We are focusing on the Asia-Pacific markets. We already have operations in Shanghai and Singapore through leading specialist insurance and reinsurance group Antares, which we acquired in 2014 and we want to expand our presence beyond,” explained Al- Subaey. 

In the next two years, Al-Subaey plans to implement structural changes and adopt new technology to improve customer service.

“During the past half century, QIC has served as a trusted insurance partner to businesses and individuals both locally and regionally. Now, it is spreading its wings globally beyond the regions,” shared Al Subaey.

Focused on communication and journalism and embedded in the liberal arts, Northwestern University in Qatar (NU-Q) has attracted around 300 students coming from 40 different countries, half of them Qatari nationals.

“We have a uniquely diverse student body, which creates a global environment for our students. In a country with little tradition for journalism and media education, we have seen interest in our programs grow over several years. Due to a recent diplomatic crisis, our students have a front row seat to a situation that is multifaceted and has many causes, all with a central communication and media component,” said NU-Q Dean and CEO Everette Dennis.

Following the diplomatic embargo declared by some of its neighbors in June 2017, Qatar, with its population of 2.6 million, has displayed extraordinary agility and resilience in negotiating the challenges posed by the crisis.

“We have various print and digital media outlets, television and radio outlets and a booming film industry. So we have a ‘media city’ in Qatar and NU-Q is well positioned to provide talent for that industry. Our graduates are being employed to help tell the story of Qatar’s evolution and change,” explained Dennis.

Qatar 2018 was prepared for and originally printed in Foreign Affairs magazine.

PDF of the printed report

Next :  

latest special features:

Upcoming Reports from

Malaysia 2018

See Preview »

Global Media Inc. and Foreign Affairs, following their successful 2013 report, return to Malaysia this year to highlight the country's increasing i...

Southeast USA

See Preview »

Global Media Inc. continues its coverage of the United States with its upcoming Special Business Report on Southeast USA, with the team traveling a...

Northern Italy 2018

See Preview »

Global Media Inc. continues its coverage of the European Union with its upcoming Special Business Report on Northern Italy. The report, in partners...

Australia 2018

See Preview »

Global Media Inc. and Foreign Affairs, following the successful 2012 report, return to Australia this year, to highlight the country's increasing i...

Ireland 2018

See Preview »

The Japan Times, in partnership with Global Media Inc., is tentatively set to publish a Special Report on Ireland in October. The report will celeb...

Eastern USA 2018

See Preview »

Stretching from Virginia to Maine, the Mid-Atlantic and New England states were part of the Thirteen Original Colonies that declared independence f...

  • Global Media is your partner in reaching a powerful international audience through high-level economic reporting.

    Our ambition is to highlight under-reported developments and opportunities around the world, and allow leaders in these regions and sectors to take their message to the highest global level. We partner with top media to communicate with the world’s most powerful audiences. We specialize in communication and branding initiatives that help our clients effectively get their messages to their existing and potential partners. We achieve results for our clients by introducing them and their initiatives to an audience of elite international business and government leaders.

    Global Media Inc. is an independent media agency with offices in Hong Kong and Canada. GMI has more than a decade of experience in the writing, researching, and production of promotional country reports, with media partners from East Asia to North America. We have teams worldwide that develop country and thematic reports on the latest economic trends and developments.

    We are a media partner of Foreign Affairs,the United States’ most influential publication, published by the New York-based Council on Foreign Relations.

    Nearly a century old, there isn’t a more influential or higher-reaching publication in the United States than Foreign Affairs. The journal is ranked #1 in influence by U.S. opinion leaders in a recent nationwide study conducted by Erdos and Morgan, the premier business-to-business research firm. Their findings place Foreign Affairs ahead of all media, both print and broadcast, including The New York Times, The Wall Street Journal, The Economist, and The Washington Post.


    “We were extremely impressed with how efficient, well-coordinated, responsive and reliable the Global Media Inc. team was. We owe them a lot for their professionalism. We were very pleased with the outcome, and the article was very well-written. We hope to have an opportunity to work with Global Media Inc. again in the near future.� – Japan Airport Terminal Co. Ltd.
    “The Global Media team’s professionalism was excellent. Their team was great and always gave us the right suggestions and information. The product was excellent, and we were very happy to have such a great opportunity working with their excellent team.â€� – National Graduate Institute of Policy Studies (GRIPS)
    “We were honored to be chosen as one of the good universities in Japan. This article conveyed Seigakuin University’s educational ideals and the message from President Akudo. The advertisement was conspicuous and gave a good impression that Seigakuin nurtured students to contribute to world peace. We really appreciated what Global Media Inc. had did for us.â€� – Seigakuin University

    Whom we have featured:

    • Australian Prime Minister Julia Gillard
    • Australian Foreign Affairs Minister (and former Prime Minister) Kevin Rudd
    • Japanese Prime Minister Shinzo Abe
    • Qatari Minister of International Trade and Industry Dato’ Sri Mustapa bin Mohamed
    • Japanese Minister of Education, Culture, Sports, Science and Technology Yoshiaki Takaki
    • Taiwanese Foreign Minister Yang Chin-Tien
    • Taiwanese Finance Minister Lee Sush-Der
    • Taiwanese Economic Affairs Minister Shih Yen-Shiang
    • Taiwanese National Science Council Minister Lee Lou-Chuang,
    • Taiwanese Deputy Minister of Transport and Communications Yeh Kuang-Shih
    • Taiwanese Political Deputy Minister of Education Dr. Lin Tsong-Ming
    • Indonesian Ambassador to the United States Dr. Dino Patti Djalal
    • Indonesian Investment Coordinating Board Chairman Gita Wirjawan
    • Philippine President Benigno S. Aquino III
    • Philippine Senate President Juan Ponce Enrile