For the next twenty years
QIC continued to develop and grow in both status and strength.
Sound underwriting and investment philosophies allowed the
company to provide excellend shareholder returns whilst
building substantial reserves.
During this period of measured
and stable growth of QIC the government took a decision
to develop the North Dome gas reserves, the single largest
non-associated offshore gas field in the world.
The
establishment of Qatargas, rapidly followed by RasGas was
clear evidence to the world that Qatar had embarked on a
programme to become the largest producer of Liquefied Natural
Gas in the world. Since the breaking of ground at the Qatargas
site in 1993 and RasGas in 1996 there has been an on-going
programme of expansion, which continues unabated.
QIC is proud to have been
associated with both of these world-class projects in all
of the developmental and operational phases.
Govermental policy is not
solely restricted to the enhancement of the oil reserves
and the increasing production and sale of LNG but encourages
the diversification of the industrial ase in the construction
of added-value hydrocarbon based industries.
Recent years have seen the
construction of additional NGL, petrochemical and fertilizer
facilities and new methanol, MTBE, vinyl, and gas-to-liquids
plants.
To mark our 40th Anniversary
in 2004 QIC has successfully obtained re-certification to
the new standard, BS EN ISO 9001:2000
Insurance is about confidence.
Confidence in the financial ability of an insurance company
to pay its claims is paramount to our clients.
QIC decided that it was ready
to undertake an interactive assessment of its financial
strength with Standard & Poor’s, one of the world’s
leading rating agencies. The decision was an act of faith
in the company’s ability to meet the rigorous criteria
Standard & Poor’s would apply during the process.
The company was therefore
delighted when on the 24th of December 2003 it was awarded
an A- Strong rating.
Our path has been the journey
of an act of faith. Faith in the ability of the State of
Qatar to grow, develop and mature, taking its place among
the enlightened nations of the world.
Our country and our
industry may be small, but its casts a long and confident
shadow of determination to develop its people and resources.
QIC has been at the forefront of this development and will
remain so as long as we remain loyal to our mission, which
is to provide a courteous, efficient and superior level
of service to all our clients, at all times, and in all
circumstances.
