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  4. > Qatar Insurance Report Q4 2015

Qatar Insurance Report Q4 2015

  • October 2015
  • -
  • Business Monitor International
  • -
  • 58 pages

BMI View: Qatar has posted strong premium growth in 2015 and this confirms our belief that the Qatarinon-life insurance sector is one of the fastest growing segments that we monitor. Both in 2015 and for theremainder of the forecast period, we anticipate dynamic and robust growth in the non-life segment. Themotor vehicle insurance subsector will be boosted by significantly higher volumes and prices in 2015, 2016and 2017 as the national vehicle fleet grows. The transport insurance subsector will also witness a rise involumes and prices.

The general growth of the economy coupled with massive infrastructure investmentswill be conducive for the non-life insurance growth. Nevertheless, we anticipate property insurance priceswill decline but the compulsory medical insurance for expatriate workers may present a positive upside. Bythe end of 2015, medical insurance will be mandatory for both white collar and blue collar expat workers.At first glance, Qatar's insurance sector resembles those of other Gulf Cooperation Council (GCC)countries. The indigenous insurers are small organisations that are focused overwhelmingly on non-lifelines. The development of medical insurance is being driven by the introduction of compulsory covers(through 2015 for expatriate workers).

Retention ratios are low: the insurers lay off a lot of the risksunderwritten with the global reinsurance industry. At times in the past, there have been strong rises inclaims. Life insurance is small and is dominated by the distribution of long-term savings solutions towealthier expatriates by international life companies that have a presence across the region. Takafulinsurance accounts for a small minority of activity and is clearly not growing.

Table Of Contents

Qatar Insurance Report Q4 2015
BMI Industry View 7
Insurance 9
Political 11
Economic 12
Operational Risk 13
Industry Forecast 15
Total Premiums Forecast 15
Total Premiums 15
Table: Total Gross Premiums Written (Qatar 2012-2019) 17
Net Premiums 17
Table: Total Net Premiums Written (Qatar 2012-2019) 18
Reinsurance Premiums 18
Table: Total Reinsurance Premiums Written (Qatar 2012-2019) 19
Total Claims 19
Table: Total Insurance Claims (Qatar 2007-2013) 19
Table: Non-Life Insurance Claims by Line (Qatar 2007-2013) 20
Insurers' Assets 21
Table: Total Insurance Assets (Qatar 2007-2014) 21
Non-Life Sub-Sector Forecast 22
Table: Non-Life % Breakdown (Qatar 2012-2019) 24
Motor Insurance 24
Table: Motor Vehicle Insurance (Qatar 2012-2019) 25
Table: Insurance Key Drivers, Autos (Qatar 2012-2019) 25
Transport Insurance 26
Table: Transport Insurance (Qatar 2012-2019) 26
Property Insurance 26
Table: Property Insurance (Qatar 2012-2019) 27
Other Insurance 27
Table: Other Non-Life Insurance (Qatar 2012-2019) 28
Industry Risk Reward Ratings 29
MENA Insurance Risk/Reward Index 29
Table: MENA Insurance Risk/Reward Index 30
Market Overview 31
Life Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Non-Life Market Overview 32
The Product Offering 32
The Competitive Landscape 33
Company Profile 35
Al Khaleej Takaful 35
Doha Insurance Co 37
Qatar General Insurance and Reinsurance Co 39
Qatar Insurance Co 42
Qatar Islamic Insurance Co 45
Demographic Forecast 47
Demographic Outlook 47
Table: Population Headline Indicators (Qatar 1990-2025) 48
Table: Key Population Ratios (Qatar 1990-2025) 48
Table: Urban/Rural Population and Life Expectancy (Qatar 1990-2025) 49
Table: Population By Age Group (Qatar 1990-2025) 49
Table: Population By Age Group % (Qatar 1990-2025) 50
Methodology 52
Industry Forecast Methodology 52
Risk/Reward Index Methodology 55
Table: Indicators 57
Table: Weighting of Indicators 58

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