Named after a historical fort,
Al Koot - one of the oldest forts in the country built in the Ottoman period in 1880 when Doha was little more than a village - the company is a symbol of protection for the Energy Industry.
Al Koot was initially incorporated in 2003 by a Ministerial decree as a 100 percent owned captive insurance company for
Qatar Petroleum (“QP”).
In 2007 AL Koot expanded its role by forming a Medical department that provides Medical insurance and Group life.
In 2008, QP transferred the ownership of Al-Koot to
Gulf International Services (GIS), a public shareholding company. Al Koot has changed its operations, from a captive insurer to QP group to a fully commercial insurance and re-insurance company in 2016. Al Koot’s relationship with QP has remained strong following such conversion.
The ultimate shareholding of Al Koot by GIS and QP has not changed as a result of changing Al Koot operations from captive to commercial. Al Koot is expanding its operation to encompass a more diverse portfolio of operations in Qatar and the GCC region at large.
Following a Government directive Al Koot is now a commercial insurer and reinsurer and achieved an S&P rating of A- in 2015.
Al Koot uses best practices in operations, business processes and marketing and continues to seek the best benchmarks for management, operating practices, training, branding and customer value.
"Al Koot management is committed to operating the Company under the disciplines and control of a Quality Management System in conformity with the International Standard IS0 9001:2015. Our objective is to achieve a complete satisfaction of our customers through continual improvement of our products and services by monitoring and measuring the effectiveness of Quality Management System."
Al Koot Quality Policy Statement.pdf