Qatar Insurance Group has secured the provisional 'AAA' ESG rating from MSCI ESG Research, marking the highest possible assessment under the globally recognised environmental, social and governance framework, The Peninsula reported on July 1.

The achievement positions QIC as the first Qatari company and sole MENA region insurer to receive the provisional AAA rating from MSCI, placing it among an elite group of worldwide property and casualty insurers with this distinction. The rating became effective on May 22.

The assessment recognises QIC's exceptional performance across three key ESG areas: privacy and data security, human capital development, and corporate behaviour. The milestone reinforces QIC's status as the leading insurer in Qatar and the broader Middle East and North Africa region.

Group Chief Executive Officer Salem Al Mannai highlighted Qatar's commitment to the Paris Agreement and QIC's alignment with United Nations Sustainable Development Goals. The company has integrated Qatar Stock Exchange ESG reporting guidelines and Qatar Central Bank directives into its sustainability framework.

Al Mannai emphasised QIC's role as a sustainability and governance benchmark within Qatar and the wider region. He credited Qatar's advanced investment environment and regulatory authorities, particularly the Qatar Central Bank, for creating legislative frameworks that enable sustainable institutional growth.

The rating reflects QIC's comprehensive approach to environmental stewardship, social responsibility and governance practices across its operations. The recognition demonstrates the effectiveness of Qatar's regulatory environment in promoting sustainable business practices within the financial services sector.

QIC's achievement underscores the growing importance of ESG criteria in evaluating corporate performance and investment attractiveness within Middle Eastern markets.