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Qatar Insurance Report Q1 2016

  • January 2016
  • -
  • Business Monitor International
  • -
  • 44 pages

Includes 3 FREE quarterly updates

BMI View: Qatar's insurance sector will outperform the majority of Western markets over the next fewyears as a robust economy, high income levels and large scale public investment drive growth. Growth willbe particularly intense over 2015-2017, due in large part to a surge in motor vehicle underwriting, beforesubsiding to a more moderate level towards the end of the forecast period. However, the dominance ofdomestic insurers and the absence of any life insurance market of note will continue to deter many of thelarger multinational players.

Latest Updates and Developments:

- Qatar's insurance sector remains well placed for expansion going into 2016. We are sticking with ourgrowth forecasts from the previous quarter, with premiums set to grow by about 5% a year on averageover 2015-2019 to reach USD2.5bn.

- As has always been the case, the core non-life lines will be the main driver of growth. Motor premiumswill grow by around 6.6% y-o-y over the period to reach USD600.4mn.

- Domestic insurers will continue to dominate the competitive landscape, with firms such as QatarInsurance Company (QIC) reporting robust financial earnings in recent months. The company posted aUSD196mn net profit for 9M15, with written premiums growing by 20% y-o-y to USD1.48bn over theperiod.

Table Of Contents

Qatar Insurance Report Q1 2016
BMI Industry View 5
Table: Total Gross Written Premiums (Qatar 2012-2019) 5
SWOT 6
Insurance 6
Industry Forecast 8
Total Premiums Forecast 8
Table: Total Gross Written Premiums (Qatar 2012-2019) 10
Table: Total Claims (Qatar 2008-2013) 13
Non-Life Sub-Sector Forecast 13
Table: Non-Life Insurance Premiums by Product Line (Qatar 2012-2019) 18
Insurance Risk/Reward Ratings 20
MENA Insurance Risk/Reward Index 20
Table: MENA Insurance Risk/Reward Index 21
Market Overview 22
Life Market Overview 22
The Product Offering 22
The Competitive Landscape 22
Non-Life Market Overview 23
The Product Offering 23
The Competitive Landscape 24
Company Profile 26
Al Khaleej Takaful 26
Doha Insurance Co 28
Qatar General Insurance and Reinsurance Co 30
Qatar Insurance Co 33
Qatar Islamic Insurance Co 36
Methodology 38
Industry Forecast Methodology 38
Risk/Reward Index Methodology 41
Table: Indicators 43
Table: Weighting of Indicators 44

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