QIC

QIC shares insights in Europe on the significant opportunities in decarbonisation and decentralisation

Retrieved on: 
Wednesday, April 10, 2024
Element, Electricity, Transport, Transition, Health care, QIC, Policy, Carbon, Social, Ecosystem, Renewable energy

A large contingent from QIC's London, New York and Australian offices were in attendance for what is the largest infrastructure investment gathering annually.

Key Points: 
  • A large contingent from QIC's London, New York and Australian offices were in attendance for what is the largest infrastructure investment gathering annually.
  • She described the need to bolster asset resilience to climate risk as not just prudent but 'pivotal' for sustainable progress, and emphasised Australia's compelling energy transition landscape.
  • On the panel, Ms Whitehead also mentioned that significant opportunities lie in the intersection between decarbonisation and other key thematics such as decentralisation and digitisation.
  • QIC deploys a thematic infrastructure investment strategy, focusing on the key themes of decarbonisation, deglobalisation, decentralisation and an ageing population.

Leading Global Institutions Invest in a Clean Energy Future With Generate Capital

Retrieved on: 
Wednesday, January 31, 2024
Environment, Construction & Property, Finance, Urban Planning, Professional Services, Alternative Energy, Sustainability, Green Technology, Energy, Partnership, Multimedia, QIC, U.S. Bancorp, Blue, Transport, University, Investment, School, AustralianSuper, HESTA, CO2, Generate, Cloud computing, Real assets, Blue Bird Corporation, Inflation, McKinstry, Student, Hospital, Renewable energy

Today, Generate Capital (“Generate”), a leading sustainable infrastructure platform, announced the closing of its latest capital raise with $1.5 billion in new capital commitments from preeminent global institutional investors.

Key Points: 
  • Today, Generate Capital (“Generate”), a leading sustainable infrastructure platform, announced the closing of its latest capital raise with $1.5 billion in new capital commitments from preeminent global institutional investors.
  • This new round brings the total capital raised by Generate since its inception in 2014 to over $10 billion.
  • As of September 2023, Generate helped produce over 320GWh of sustainable power and process more than 715Kt in organic waste.
  • “We're at an inflection point in the transition to a clean energy economy,” says Generate Capital CEO and co-founder Scott Jacobs.

ArcelorMittal completes sale of ArcelorMittal Temirtau

Retrieved on: 
Friday, December 8, 2023
Mining, Sale, QIC, Government, Bookkeeping

ArcelorMittal (‘the Company’) today announces it has completed the sale of ArcelorMittal Temirtau, its Kazakh steel and mining operation, to the Qazaqstan Investment Corporation (‘QIC’), a state-controlled direct investment fund.

Key Points: 
  • ArcelorMittal (‘the Company’) today announces it has completed the sale of ArcelorMittal Temirtau, its Kazakh steel and mining operation, to the Qazaqstan Investment Corporation (‘QIC’), a state-controlled direct investment fund.
  • ArcelorMittal and the Government of Kazakhstan had been in discussion for some months to agree on a sustainable path forward for the integrated steelmaking asset, located in the Karaganda region.
  • ArcelorMittal will also receive an additional sovereign-fund guaranteed payment of $450 million, paid in four equal annual instalments, as repayment of an intra-group loan.
  • All ArcelorMittal Temirtau assets (please refer to the Company’s consolidated accounts and third quarter 2023 earnings release) have been transferred on an ‘as is’ operational basis, meaning QIC has now assumed control and accountability for ArcelorMittal Temirtau’s operations, which will be renamed.

AM Best Affirms Credit Ratings of Qatar Insurance Company Q.S.P.C. and Its Subsidiary

Retrieved on: 
Thursday, December 21, 2023
Other Professional Services, Professional Services, Insurance, Syndicate, Risk, ERM, Credit, AM Best, GWP, Lloyd's of London, News, Growth, ALL, Gulf Cooperation Council, QIC, Buffer

The group is geographically well-diversified, with insurance operations in the Middle East and multi-channel international platforms under the Antares Global brand, including a Bermuda-domiciled reinsurer (Antares Re), a Lloyd's platform (Syndicate 1274) and carriers in Europe. The business mix has been volatile in recent years, with a growing focus on motor insurance, which reached 56% of consolidated gross written premium (GWP) in 2021. However, QIC's announcement stating its intention to divest from its Gibraltar-based carriers -- which largely write U.K. motor -- has halted this growth and resulted in a decline of motor premium to 50% of 2022 consolidated GWP, a trend that AM Best expects to continue over the medium term.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Qatar Insurance Company Q.S.P.C.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Singapore office to strengthen QIC's partnerships across Asia

Retrieved on: 
Friday, December 1, 2023
Queensland Investment Corporation, QIC, OECD, Real estate, Consumer, Natural capital, Airline, Tourism, Consultant, Financial services, Mitsui

SINGAPORE, Dec. 1, 2023 /PRNewswire/ -- Queensland Investment Corporation (QIC) has expanded its international presence with a new Singapore office established to support a greater focus on Asian-based institutional investors.

Key Points: 
  • SINGAPORE, Dec. 1, 2023 /PRNewswire/ -- Queensland Investment Corporation (QIC) has expanded its international presence with a new Singapore office established to support a greater focus on Asian-based institutional investors.
  • Located in the Marina Bay Financial Centre, the space will serve as a hub to strengthen local partnerships and explore new capital opportunities in the region.
  • QIC CEO Kylie Rampa said the opening heralded a new chapter in QIC's globalisation and client diversification story.
  • Choi and Mitsui are also joined in Singapore by Shiree Hocking, a 13-year QIC veteran, who brings a strategic focus on relationships and new business opportunities in the Middle East and Southeast Asia.

QIC Group 9-month net profit jumps 445% to QAR 453M

Retrieved on: 
Tuesday, November 7, 2023
QAR, Environment, Growth, QIC, ESG, Social, Clothing, Insurance

DOHA, Qatar, Nov. 7, 2023 /PRNewswire/ -- Qatar Insurance Company ("QIC Group", "QIC"), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported Net Profits of QAR 453M for the first nine months of 2023, rising 445% from the same period in 2022.

Key Points: 
  • QIC Group consolidated net profits surge by 445% of QAR 453M.
  • DOHA, Qatar, Nov. 7, 2023 /PRNewswire/ -- Qatar Insurance Company ("QIC Group", "QIC"), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported Net Profits of QAR 453M for the first nine months of 2023, rising 445% from the same period in 2022.
  • Despite the challenges of the market environment, QIC reported net investment results amounting to QAR 681M during first nine months of 2023.
  • The consolidated net profit was QAR 453M during the first nine months of 2023.

QIC Group six-month net profit jumps 181% to QAR 325M

Retrieved on: 
Monday, August 14, 2023
Insurance, QAR, Fintech, QIC, Film industry, Clothing

DOHA, Qatar, Aug. 14, 2023 /PRNewswire/ -- Qatar Insurance Company ("QIC Group", "QIC"), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported Net Profits of QAR 325M for the first half of 2023, rising 181% from the same period in 2022.

Key Points: 
  • QIC Group consolidated net profits surge by 181% of QAR 325M.
  • Insurance service results of QAR 552M in H1 2023, compared to QAR 32M in H1 2022.
  • Net investment results of QAR 460M during H1 2023, compared to QAR 475M in H1 2022.
  • DOHA, Qatar, Aug. 14, 2023 /PRNewswire/ -- Qatar Insurance Company ("QIC Group", "QIC"), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported Net Profits of QAR 325M for the first half of 2023, rising 181% from the same period in 2022.

Renewa Secures $450m of Capital

Retrieved on: 
Thursday, August 10, 2023
Capital market, Consolidated Edison, Policy, TES, Carbon, Wind, National Clean Energy Business Plan Competition, QIC, Acquisition, Enel, NextEra Energy, Renewable energy

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- Renewa, a leading land and infrastructure investor in the renewable energy industry, today announced that it has secured $450 million (US) of committed capital, led by QIC, a leading institutional investment manager and advisor. The new capital will enable the company to further its mission to help advance the transition to renewable energy in the United States.  

Key Points: 
  • The new capital will enable the company to further its mission to help advance the transition to renewable energy in the United States.
  • With a presence in more than 30 gigawatts of projects, Renewa has one of the most diversified land exposures to U.S. renewable energy.
  • Their appointments bring extensive expertise to the Renewa team in developing, operating and financing energy projects.
  • Natalie Jackson, an energy executive with a significant track-record of executing and structuring complex financing transactions, is Chief of Capital Markets and Structuring at TES.

QIC Infrastructure-backed Renewa secures US$450m of capital to accelerate growth of land under green energy projects

Retrieved on: 
Thursday, August 10, 2023
Climate, Ohio State University, SunLight General Capital, Centrio, Carbon, Wind, QIC, Acquisition, Acciona, Investment, Enel, Mobility, Northeastern University, Entrepreneurship, NextEra Energy, Renewable energy

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- QIC, on behalf of its managed clients, has appointed energy industry veterans Mark Noyes, Peter Tumminello, and Natalie Jackson as independent directors of portfolio company Renewa. Led by Co-Founders and Co-CEOs Stephen Lee and Gage Mooring, Renewa is a leading land under infrastructure company now with a total of US$450 million of committed capital. This committed funding demonstrates QIC's focus on decentralized infrastructure, aligning with its strategy across energy transition, decarbonization, and distributed infrastructure.

Key Points: 
  • This committed funding demonstrates QIC's focus on decentralized infrastructure, aligning with its strategy across energy transition, decarbonization, and distributed infrastructure.
  • Renewa owns one of the largest independent portfolios of land under clean energy projects in the U.S.
  • Significantly expanding its portfolio, Renewa has achieved several important growth milestones since QIC invested in the platform in 2022.
  • Renewa, with a presence in more than 30 gigawatts of projects, has one of the most diversified land exposures to U.S. renewable energy.

One Model Announces $41 Million Growth Investment from Riverwood Capital

Retrieved on: 
Monday, August 7, 2023
Workforce, Queensland Investment Corporation, Model, Partner (business rank), AGC, Colgate-Palmolive, Organization, Cooley, QIC, Investment, Machine learning, HR, Buma Export Award, One Model Nation, Automation, Management

AUSTIN, Texas, Aug. 7, 2023 /PRNewswire-PRWeb/ -- One Model, the foremost people analytics software company, today announced the successful completion of its growth funding round, securing a $41 million investment led by Riverwood Capital, a leading global investor in high-growth technology companies.

Key Points: 
  • AUSTIN, Texas, Aug. 7, 2023 /PRNewswire-PRWeb/ -- One Model, the foremost people analytics software company, today announced the successful completion of its growth funding round, securing a $41 million investment led by Riverwood Capital, a leading global investor in high-growth technology companies.
  • The investment is a strong endorsement for One Model, as it is one of the most sizable new investments made in a human resources technology company in 2023.
  • "This capital will allow us to maintain our growth trajectory and remain the innovation leader of the people analytics domain," stated Christopher Butler, co-founder and CEO of One Model.
  • One Model's growth trajectory is powered by strong customer relationships with nearly a hundred of the world's largest global employers and brands.