Al Koot will not deal in reinsurance

Al Koot, a subsidiary of Gulf International Services, specialized in insurance, has officially expressed at the beginning of the year its willingness to convert into a reinsurance company. This idea was supported by the overall market which is appreciative of the retention of risks in Qatar.

Al Koot today has ignored this plan without providing justification. During the first nine months of 2013, the company reported a turnover of 517.7 million QAR (144 million USD), most of which comes from health insurance. Its profit rose by 26.7% at 16.3 million QAR (4.5 million USD).