Doha Insurance (QSC)

Established in 2000, Doha Insurance has quickly become one of the most active companies of the emirate. Listed on the stock market, Doha Insurance has managed to settle in a market dominated by traditional insurers: Qatar Insurance and Qatar General.

Thanks to an initial excellent share capital, the company soon got positioned on the market niche of fire and damage to property risks which, for the time being, account for more than 50% of its turnover.

An average loss ratio of 56% in the last five years has enabled Doha Insurance to reap substantial profits and consolidate its technical bases.

By the standard of the Gulf States, Doha Insurance is a medium-sized company on a promising market which the local authorities strive to turn into a hub for Middle Eastern insurance. The energy potential of Qatar, gas and oil, is an enabling factor.

Sh. Nawaf Bin Nasser
Bin Khaled Al-Thani
Adel Ali Bin Ali
ChairmanManaging director

Doha Insurance Company in 2009

Authorized capital
49 397 400 USD
Paid up capital
49 397 400 USD
Turnover
86 868 457 USD
Shareholder's equity
101 908 694 USD
Total assets
184 851 578 USD
Net result
14 292 295 USD
ROE
14.02%
Net loss ratio
47.5%
Combined ratio
61.2%
Number of subsidiaires
2 (Doha Takaful & Doha Insurance Company)
Number of employees
72

Management

Managing director
Adel Ali Bin Ali
General manager
Bassam Hussein
Assistant general manager, technical operations
Mahmoud Al Nasir
Assistant general manager, motor
Walid AL Kuffash
Accounts manager
Ashok Gaur
Legal affairs and motor claims manager
Samer Qawas
Public relations supervisor
Iman Agha
Administration and human resources manager
Mubarak Baddah Alhajri
IT manager
Salah Sheikh

Main technical highlights: 2005-2009

in USD
 20052006200720082009
Gross written premiums
35 949 07155 400 98769 206 04086 670 32586 868 457
Written premiums net of reinsurance
9 312 52615 114 69117 936 17222 935 62924 570 672
Net earned premiums
8 087 08013 006 55616 475 78720 997 47223 941 992
Net incurred losses
4 966 1877 951 6559 108 22011 363 12511 382 179
Net loss ratio
61.4%61.1%55.3%54.1%47.5%
Management expenses 1
5 611 4366 550 8506 977 23211 605 10511 876 826
Net results
11 585 8957 398 37412 139 47712 932 43114 292 295
1 Overhead expenses + commissions

Evolution of premiums, losses, management expenses and results

in thousands USD

Turnover's evolution per insurance market: 2005-2009

in USD
Insurance200520062007200820092009 shares2008/09 growth
Conventional
35 949 07155 048 14868 653 34886 036 86381 539 59993.9%-5.2%
Takaful
-352 839552 692633 4625 328 8586.1%741.2%
Total
35 949 071 55 400 987 69 206 040 86 670 325 86 868 457 100% 0.2%

Turnover's evolution per class of business: 2005-2009

in USD
 200520062007200820092009 shares2008/09 growth
Fire & accident
16 899 79629 514 85139 352 56746 634 70644 317 38251%-5%
Marine
11 783 47515 502 95116 030 21922 557 73123 744 34827.3%5.3%
Motor
7 265 80110 383 18413 823 25317 477 88918 806 72621.7%7.6%
Total
35 949 071 55 400 987 69 206 040 86 670 325 86 868 457 100% 0.2%

Breakdown per class of business in 2009

Ratios' evolution: 2005-2009

1 Management expenses on gross written premiums
Exchange rate
QAR/USD as at 31/12
2005
2006
2007
2008
2009
0.27482
0.27489
0.27546
0.27487
0.27475

Contact




Head office
C-Ring Road DIC Building- Doha
P.O. Box 7171, Doha - Qatar
Phone
(+974) 4433 5000
Fax
(+974) 4465 7777
Email
dohainsco [at] qatar [dot] net [dot] qa
Website
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