Strong growth for the insurance industry

The Qatari insurance has experienced strong growth between 2008 and 2012. According to Alpen Capital’s report, the average annual growth rate for the period considered was of 11.3%. The vitality of this sector is supported by the excellent economic health of the country, the major investments in infrastructure and by the population growth. The favourable legal framework conducive to the deployment of insurance activities is also emphasized. The turnover of the entire industry totaled 1.3 billion USD in 2012 with a penetration rate of 0.7%, down since 2009.